1117 ET - Treasury Secretary Scott Bessent said he is not going to speculate on what the Fed may do at its September interest rate meeting. "We've seen a supply shock, and traditionally you don't raise...unless you see second or third-order effects," Bessent said in an interview on CNBC. Bessent said core inflation has remained very restrained, and there will be a productivity boom on the other side of the AI-buildout. After Fed Chairman Kevin Warsh's debut speech at Jackson Hole, odds for a rate hike rose above 60%, according to CME's FedWatch tool.
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