U.S. Treasury’s Bessent says Fed rates should be 150 points lower

Scott Bessent, the U.S. Treasury Secretary, called on the Federal Reserve to begin cutting benchmark interest rates in its September decision, as demanded by President Donald J. Trump. Bessent was one of the candidates to succeed Jerome Powell as U.S. central banker, but he himself turned down the job to remain as Treasury secretary. James Bullard and Stephen Miran,…