Bessent Seeks Open Mind on Interest Rates Amid US Inflation Concerns

Treasury Secretary Scott Bessent has urged Federal Reserve policymakers to keep an 'open mind' on interest rates, arguing that productivity gains from artificial intelligence and deregulation will help keep US inflation in check. Speaking on September 27, 2026, Bessent framed his comment in the context of a thriving US economy under President Donald Trump's leadership. The Secretary attributed this growth to tax cuts and deregulation.

Bessent acknowledged that elevated fuel prices sparked by the conflict with Iran weigh on US voters ahead of midterm elections in November. However, he remained optimistic about the US inflation outlook, citing potential productivity gains from emerging technologies like artificial intelligence.