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Treasury Secretary urges Fed flexibility
The U.S. Treasury Department calls for keeping monetary policy options open at the Federal Reserve, noting that productivity gains linked to artificial intelligence and eased regulatory restrictions could help contain inflation and boost U.S. economic growth. The department compares the current economic expansion to the prosperity experienced during the dot-com boom in the 1990s, with the potential to surpass it, emphasizing that supportive policies such as tax cuts and deregulation could further stimulate economic activity. At the same time, the United States faces inflationary pressures from rising fuel prices due to the conflict with Iran and attacks on the Russian energy sector. However, core inflation remains under control, with a 0.3% increase in August and an annual growth rate of 2.4%. The department expects Iranian oil shipments to China to soon cease, which could pressure Tehran to reach an agreement on reopening the Strait of Hormuz, especially as Chinese aid to Iran has significantly decreased.
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