Besant: The Federal Reserve urgently needs significant reform, as predictive models have failed

ChainCatcher news, according to Jinshi reports, U.S. Treasury Secretary Basant expressed appreciation for the Federal Reserve's decision to cut interest rates by 25 basis points, but pointed out that the Fed's skeptical remarks about whether to cut rates again this year indicate that the institution urgently needs significant reform. Basant will conduct a second round of interviews for the Federal Reserve chair candidate in early December to replace Powell, allowing Trump to make an appointment before Christmas. He stated, "The current Federal Reserve is stuck in the past; their inflation forecasts this year have been very poor, and their models have failed."