U.S. Treasury Secretary Says Fed Should Simplify Toolkit, Board Appears Inclined Toward Rate Cuts

U.S. Treasury Secretary Scott Bessent said on Nov. 25 that the Federal Reserve's ample reserves framework may be showing signs of strain and suggested the Fed should simplify its toolkit and adopt a more restrained approach, BlockBeats reports. While concerns about rising living costs persist, monetary policy must remain forward-looking, Bessent said. He observed that Fed board members appear inclined toward interest rate reductions.