US Treasury Secretary Bessent said that Fed policymakers should maintain an “open mind” on interest rates, and believes that productivity gains and deregulation brought about by artificial intelligence will help control US inflation. Bessent pointed out that consumer prices in the US excluding food and energy rose 0.3% in August, up 2.4% year over year. He believes that “core inflation has been very stable; in fact, it has declined in the past few months.”

US Treasury Secretary Bessent said that Fed policymakers should maintain an “open mind” on interest rates, and believes that productivity gains and deregulation brought about by artificial intelligence will help control US inflation. Bessent pointed out that consumer prices in the US excluding food and energy rose 0.3% in August, up 2.4% year over year. He believes that “core inflation has been very stable; in fact, it has declined in the past few months.”