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U.S. Treasury Secretary: It is time for the Fed to step back, the Federal Reserve Board of Governors seems inclined to cut interest rates.
On November 25, U.S. Treasury Secretary Becerra stated that the Fed's “abundant reserve system” may be slightly unraveling. Measures must be simplified, as the Fed has too many tools. There are concerns about rising living costs, but Fed policy needs to look to the future. It is time for the Fed to step back. The Federal Reserve Board of Governors seems inclined to cut interest rates.