17 Hrs
Source:
المشهد العربي
Treasury Secretary urges Fed to stay flexible
The U.S. Treasury Secretary, Scott Biesent, urged the Federal Reserve to keep its options open regarding interest rate hikes or cuts, emphasizing that the productivity boom driven by AI technologies and efforts to ease regulatory constraints will play a central role in controlling inflation in the United States. He pointed out that the U.S. economy is showing a strong rebound, with expectations that the effects of this productivity surge could surpass those experienced during the internet boom of the 1990s. These statements come amid increasing inflationary pressures resulting from rising fuel prices due to the Iran conflict, as the midterm elections in November approach.
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