Bessent Sees Oil Prices Falling Amid Global Market Shifts
US Treasury Secretary Scott Bessent said in an interview that oil prices will fall. He also stated that US President Donald Trump believes Iran is not ready for a deal, citing Operation Outcast as a plan to create conditions for Iran to negotiate.
Bessent expressed confidence in the Federal Reserve's monetary policy, saying Chairman Warsh and he are on the same page regarding bonds. However, he declined to speculate about potential rate changes or their impact on the market.
The Treasury Secretary also discussed his views on foreign exchange markets, stating that the Bank of Japan and Japanese government will take actions leading to a stronger Yen. He emphasized that meeting with Canadian counterparts would focus on strengthening economic ties, rather than conflict.