US Treasury Secretary Bessent: The Fed Should Focus on the Future

November 13 — According to Jinshi Data, US Treasury Secretary Bessent said: the Fed should understand that this is an energy supply shock. The Fed should focus on the future. Markets are resilient. Bond auctions are strong and dollar buying is vigorous. He is confident in the economy, which is in very good shape with no alarm signals. Over-hiking rates as the energy supply shock is about to fade would be inappropriate. The Fed should keep an open mind. With gasoline prices falling, we may get a moderate data reading next week. He believes the Fed should not pivot because of an energy supply shock. Four of the strongest bond auctions in 20 years were held recently.