U.S. Treasury Secretary Scott Bessent said the Federal Reserve should consider cutting its benchmark rate by half a percentage point at the Sept. 16–17 policy meeting, arguing that borrowing costs are “too constrictive” after recent downward revisions to payroll data and a modest July inflation reading of 0.2% headline and 0.3% core. Bessent, speaking in a Fox Business interview on Tuesday, added that rates ought to be 150–175 basis points lower and that the central bank could have begun easing in June or July had it possessed accurate data at the time. He also voiced hope that White House economic adviser Stephen Miran will be confirmed to the Fed’s Board of Governors before the September meeting. Traders intensified bets on easier policy after the comments and the latest CPI report. CME FedWatch shows fed-funds futures assigning roughly 90%–96% odds to a September rate cut, up from the low-80% range before the data. Markets still lean toward a standard 25-basis-point move, but pricing for a larger adjustment has begun to appear following Bessent’s call.