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Treasury Secretary calls for flexible interest rates
U.S. Treasury Secretary Scott Pizent confirmed that the Federal Reserve should keep all options open regarding raising or lowering interest rates. He pointed out that productivity gains linked to artificial intelligence and the easing of regulatory restrictions could help contain inflation and bolster economic growth. Comparing this to the internet boom of the 1990s, he explained that policies involving tax and regulatory relief can support economic activity, while considering improvements in productivity when assessing the course of monetary policy. Despite rising fuel prices due to international conflicts, core inflation rates remain under control, registering a slight increase of 0.3% in August, with an annual rise of 2.4%. He also anticipated that Iranian oil shipments to China will soon decline, which could increase pressure on Tehran to reach an agreement regarding the Strait of Hormuz, amid China's decreasing assistance to Iran.
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