Bessent was speaking in an interview with Fox:says ‘a little bewildering’ that tariffs wouldn’t push Fed towards a cutAsked if he thinks Powell will lower rates by fall, Bessent: I think they could do it sooner than then but certainly by SeptemberIt's a bit tough to figure out what Bessent is doing here. He is, according to Musk, a failed hedge fund manager so its always possible that he really doesn't understand tariff impacts on inflation, but I suspect he is parroting Trump-approved b/s instead. Anyway, the probability of a September Federal Open Market Committee (FOMC) rate cut is on the up. ICYMI - Goldman Sachs brings forward Fed rate cut forecast to September, from December This article was written by Eamonn Sheridan at www.forexlive.com.