Besenet: The Federal Reserve may cut interest rates in September or earlier

ChainCatcher news, according to Jin Shi, U.S. Treasury Secretary Mnuchin stated on Tuesday night that he believes the Federal Reserve may cut interest rates in September or "earlier," as Trump's tariffs have so far only triggered mild inflation.

"I think the standard is that tariffs do not cause inflation. If they are to follow that standard, I think they might take action earlier, but certainly before September," Mnuchin said, "I guess this tariff imbalance syndrome might even occur at the Federal Reserve."

As Mnuchin made these remarks, Trump intensified pressure on the Federal Reserve and Powell, calling for interest rates to be cut by as much as 3 percentage points.