Overview
- U.S. Treasury Secretary Scott Bessent told Semafor the Federal Reserve should wait and see before moving to lower rates.
- He said the economy looked very strong through January and February, which eases pressure to act fast.
- He argued the price surge tied to higher oil is likely temporary and not becoming part of long‑term inflation expectations.
- He backed the Fed watching how the war in Iran affects growth and prices, with attention on whether energy costs spread into wages and core inflation.
- Recent data showed the biggest monthly inflation increase in nearly four years as crude jumped more than 30% and average U.S. gasoline prices rose above $4 a gallon.