U.S. Treasury Secretary Reiterates Rate Cut by September and Says Fed Misjudged Inflation Uptick

July 3rd: Nick Timiraos, a reporter from The Wall Street Journal who is renowned as the "Fed Whisperer," composed an article indicating that US Treasury Secretary Janet Yellen once more mentioned during an interview that the Federal Reserve ought to be capable of reducing interest rates prior to September based on its own rate-cutting criteria. Yellen remarked, "I believe that if the tariff cut fails to give rise to inflation, and if the Fed desires to adhere to this criterion, I think they can carry it out early but definitely before September. Nevertheless, I do not concur with the Fed's criteria, but if they follow this criterion, why not implement it in the fall?" Yellen declared that the Fed's prediction of escalating inflation is incorrect, but he does not cast doubt on the Fed's view that economic growth will wane, and he considers that the forecast of the deceleration of economic growth should prompt the Fed to resume interest rate cuts. Yellen had previously stated that he would not offer comments on future monetary policy.