Politics
Bessent says 'not necessarily' a mistake if the Fed hikes again
Key Points
Treasury Secretary Scott Bessent joined CNBC on Wednesday following the Federal Reserve's latest policy decision and with just days left before an election that will determine the balance of power in Washington. After the central bank paused rate hikes Wednesday, Bessent said it would 'not necessarily' be a mistake if the Fed needed to increase rates at its next meeting in December. Bessent's interview comes hours after the Fed decided to keep interest rates unchanged, as the market widely...
Treasury Secretary Scott Bessent joined CNBC on Wednesday following the Federal Reserve's latest policy decision and with just days left before an election that will determine the balance of power in Washington.
After the central bank paused rate hikes Wednesday, Bessent said it would 'not necessarily' be a mistake if the Fed needed to increase rates at its next meeting in December.
Bessent's interview comes hours after the Fed decided to keep interest rates unchanged, as the market widely expected. Fed funds futures traders place a more than 83% probability that the central bank will lift rates in December.
Bessent is a key confidant for President Donald Trump, who's Republican party is counting down to next week's midterm election. The outcome of several key races could determine if the GOP can retain total control in Washington.