Federal Reserve Chair Candidate Brad Calls for 100 Basis Point Rate Cut, Plans to Meet With U.S. Treasury Secretary After Labor Day

BlockBeats News, August 21st - Former St. Louis Fed President and front-runner for the next Federal Reserve Chair, Brad, called for a 100 basis point rate cut this year and further cuts in 2026. Brad stated in an interview on Thursday: "Interest rates are currently a bit high, and I believe we can cut by about 100 basis points by 2026 - I think this will start with a cut at the September meeting, followed by possible further action later this year."

Brad mentioned that he has been in touch with Treasury Secretary Benson regarding his candidacy for Federal Reserve Chair and plans to "possibly" schedule a meeting after the Labor Day on September 1st. As for further rate cuts next year, Brad stated that it will depend on the data performance. He also emphasized the importance of maintaining the US dollar's reserve currency status. (FXStreet)