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📅 July 3, 7:00 – July 9,
U.S. Treasury Secretary: The Federal Reserve may cut interest rates before September, Trump pressures for a 3 percentage point cut.
[Block Rhythm] On July 2, U.S. Treasury Secretary Mnuchin stated on Tuesday night that he believes the Federal Reserve may lower interest rates in September or "earlier," as tariffs imposed by Trump have so far only triggered moderate inflation. "I think the standard is that tariffs do not cause inflation. If they are to follow that standard, I think they might act earlier, but certainly before September," Mnuchin said, "I guess this tariff imbalance syndrome might even occur at the Federal Reserve." Mnuchin made the remarks as Trump increased pressure on the Federal Reserve and Powell, demanding interest rates be cut by as much as 3 percentage points.