US Treasury Secretary Scott Bessent said in a CNBC interview that oil prices are set to fall, while repeating that President Donald Trump has said Iran is not ready for a deal. He also said “Operation Outcast” is intended to create conditions that would push Iran to negotiations, and added that the US has areas of alignment with China on Iran.
Comments On Monetary Policy And Inflation
Bessent said he would not speculate on what the Federal Reserve may do, while arguing that rates are not traditionally raised into a supply shock. He said core inflation has remained “very restrained”, and stated that Fed chair Warsh and he are “on the same page on bonds”.
International Relations And Currency Policy
On Japan, Bessent said the Japanese government and the Bank of Japan will take steps that lead to a stronger yen. He also said he will meet his Canadian counterpart and added: “we are not in war with Canada.”
