U.S. officials, including Treasury Secretary Scott Bessent and Cleveland Fed President Beth Hammack, are expecting the Federal Reserve to take a wait-and-see approach to interest rates amid the Iran war.
Bessent, who has repeatedly urged the central bank to lower interest rates, said he would “understand” if officials waited to see what happens with war and inflation expectations.
“If you notice, I said that they could, they could observe before they cut rates,” Bessent told Reuters on April 14. “The impetus here is they still, they will need to cut rates.”
“If they want to wait for some clarity, I understand that.”…