US President Donald Trump’s trade policy has tied the financing of new American factories to the easing of some tariffs for foreign allies, a strategy that could channel more than $10 trillion into US manufacturing and critical industries, Treasury Secretary Scott Bessent said in a Fox Business interview on Wednesday.  “We have agreements in place where the Japanese, the Koreans, and to some extent the Europeans will invest in companies and industries that we direct—largely at the President’s

I think we could go into a series of rate cuts here, starting with a 50bp rate cut in September. If you look at any model, it suggests we should probably be 150-175 bps lower.     -Treasury Secretary Bessent, on Bloomberg TV, 8/13/25 I didn’t tell the Fed what to do.  What I said was that to get to a neutral rate on interest, that that would be approximately a 150-basis-point cut.  I believe that there