Bessent says 'not necessarily' a mistake if the Fed hikes again

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A new interest rate hike by the Fed would not necessarily constitute a monetary policy error, according to US Treasury Secretary Scott Besant.

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A potential new interest rate hike by the Fed would not necessarily constitute a monetary policy mistake, US Treasury Secretary Scott Besant said on Wednesday.

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Scott Bessent argued that future increases in Federal Reserve rates would not necessarily be a mistake and supported Kevin Warsh's management, while energy inflation and the war with Iran complicate prospects.