HONG KONG, Nov 28 (ECONOMIST) - U.S. Treasury Secretary Butent said Federal Reserve policymakers should remain "open-minded" on interest rates, and noted that productivity gains driven by artificial intelligence and deregulation would help curb U.S. inflation.
Butent said the U.S. economy is thriving under President Trump, partly due to tax cuts and deregulation, even though tensions with Iran have kept fuel prices high, putting pressure on American voters ahead of the November midterm elections.
Butent said Fed Chair Wach is "very clear" that the U.S. economy is currently experiencing growth similar to the 1990s internet boom era when Greenspan was Fed Chair, and perhaps even "more pronounced".
He also noted that U.S. core inflation has remained very subdued and has actually declined over the past few months. (rc)
Butent said the U.S. economy is thriving under President Trump, partly due to tax cuts and deregulation, even though tensions with Iran have kept fuel prices high, putting pressure on American voters ahead of the November midterm elections.
Butent said Fed Chair Wach is "very clear" that the U.S. economy is currently experiencing growth similar to the 1990s internet boom era when Greenspan was Fed Chair, and perhaps even "more pronounced".
He also noted that U.S. core inflation has remained very subdued and has actually declined over the past few months. (rc)