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According to Jinshi reports, U.S. Treasury Secretary Becerra stated that he understands the Federal Reserve needs to wait for the right moment to cut interest rates and pointed out that the Federal Reserve will ultimately lower interest rates further.

The President of the United States, Donald Trump, stated that the next Federal Reserve Chair will be selected in early January next year. U.S. Treasury Secretary Scott Bessent has organized and overseen the candidate selection process, establishing an agenda that could bring comprehensive changes to the Federal Reserve while pushing for interest rate cuts. U.S. Treasury Secretary Scott Bessent is at a pivotal moment in his government career.Although the power transition at the Federal Reserve poses risks for Bessent, another more reasonable possibility is that he will gain new powers. He will work with a Federal Reserve Chair willing to cooperate, who may be inclined to grant the Treasury Secretary some powers that have long been considered off-limits for politically sensitive departments within the executive branch. At that point, the Treasury will have a greater say in the Federal Reserve's large-scale asset purchases and sales (referred to as quantitative easing and quantitative tightening, respectively).

ChainCatcher news, according to Jinshi reports, U.S. Treasury Secretary Basent stated that the Federal Reserve is not expected to cut interest rates today, hoping to see the Federal Reserve "have a bit of imagination," reiterating that the Federal Reserve made a mistake on the inflation issue related to tariffs.

ChainCatcher news, U.S. Treasury Secretary Mnuchin refuted that the recent depreciation of the dollar will affect its status as the world's primary currency. Mnuchin said last week: "The price of the dollar is not related to a strong dollar policy. The key to a strong dollar policy is whether we take measures in the long term to ensure that the dollar continues to serve as the global reserve currency." He believes that the Trump administration is indeed taking such measures.The dollar index fell nearly 11% in the first half of the year, marking the worst first-half performance since 1973. This depreciation occurred against a backdrop of concerns about the Trump administration's policies, particularly the potential impact of increased tariffs on economic growth and a tough diplomatic stance towards long-term allies, who have historically funded the U.S. Mnuchin stated that the Republican tax bill "created conditions for economic growth."

ChainCatcher news, according to Jinshi reports, U.S. Treasury Secretary Basant stated that we are currently at a very high level of real interest rates. If the Federal Reserve does not cut interest rates at this meeting, the rate cut in September may be larger.

ChainCatcher news, according to Jin Shi, U.S. Treasury Secretary Mnuchin stated on Tuesday night that he believes the Federal Reserve may cut interest rates in September or "earlier," as Trump's tariffs have so far only triggered mild inflation."I think the standard is that tariffs do not cause inflation. If they are to follow that standard, I think they might take action earlier, but certainly before September," Mnuchin said, "I guess this tariff imbalance syndrome might even occur at the Federal Reserve."As Mnuchin made these remarks, Trump intensified pressure on the Federal Reserve and Powell, calling for interest rates to be cut by as much as 3 percentage points.

ChainCatcher news, according to Jinshi reports, U.S. Treasury Secretary Basent stated that in the coming weeks and months, he will begin the search for a successor to Federal Reserve Chairman Powell.