U.S. Treasury Secretary Bessent: Fed data is seriously distorted, Powell should accelerate rate cuts.

U.S. Treasury Secretary Scott Bessent ( stated in an interview this morning on 9/11 that the economic data relied upon by The Federal Reserve (FED) ) is severely distorted, suggesting that this month's interest rate meeting should be recalibrated and consider a rate cut of more than 50 basis points. At the same time, he also discussed the current Trump administration's adjustments to Fed personnel, interest rate policies, and the next steps in the trade war.

Criticize the distortion of the Fed data, please recalibrate the interest rate cut.

Bessent was the first to criticize the U.S. Bureau of Labor Statistics (BLS) for data distortion, pointing out that the current response rate for the survey is only 30% - 40%, and many data are not received. Subsequently, it relies on estimation methods to “hard fill” the gaps, turning quantitative data into “guessing based on intuition.”

He bluntly stated that the data itself is inaccurate, but the Fed still insists on relying on data to make decisions, so it should consider “cutting interest rates” to correct its policy.

Bessent further believes that the rate cut this month needs to be adjusted, even suggesting a reduction of half a basis point (0.5%) to align with the actual economic conditions, and specifically named economist EJ Antoni as the best candidate for correcting the data, describing Antoni as “pragmatic, highly trustworthy, and willing to speak the truth.”

The picture shows economist EJ Antoni with Trump. Antoni was also nominated by Trump on 8/12 as the director of the U.S. Bureau of Labor Statistics (BLS).

( The Federal Reserve (FED) Chairman Powell hinted at a possible interest rate cut: The Federal Reserve (FED) is cautiously observing the economic changes )

said that the Fed is not reflecting and needs a comprehensive review.

Bessent emphasized that this is not about creating a Trump version of the Federal Reserve (FED), but rather about restoring the FED's independence to focus on monetary policy. He pointed out:

Inflation reaches a new high in 40 years: The Federal Reserve (FED) has never reviewed why it got out of control and has no measures to prevent it.

Banking Crisis: Events like the collapse of Silicon Valley Bank were hastily glossed over.

Quantitative easing (QE) has caused the widening of the wealth gap.

The error rate of economic forecasts is too high: official GDP growth predictions often deviate by 30% to 40%. He criticized the Fed for “overstepping its authority,” threatening its own independence, and urged for a prompt review of the decision-making mechanism and regulatory system.

Youth Unemployment Rate Soars: Currently, Generation Z ( is facing an unemployment rate of over 10% and high housing prices, calling on the Fed to stop being old-fashioned and deal with reality quickly to address the issue.

Trump's dismissal of Fed board members becomes the focus, Treasury Secretary: Powell will investigate soon.

Recently, Fed Governor Lisa Cook was directly dismissed by Trump due to alleged mortgage fraud. Bessent expressed his views on this matter. He pointed out that Cook did not deny the accusations but only challenged whether President Trump had the authority to “dismiss for cause.”

He also believes that even if Cook really fights all the way to court, he will ultimately be overturned by the Supreme Court. Besant also took this opportunity to publicly urge Fed Chairman Jerome Powell to quickly initiate an internal investigation, but so far the Fed has not taken any action.

)Trump strikes! Fed board member Cook involved in mortgage fraud, FHFA director hints at collusion with Powell (

Trump's trade tactics are fully committed to protecting the U.S. and consolidating the dominance of the dollar.

When asked about “dollar hegemony,” Bessent stated that a complete strategy will be proposed in the coming quarters to ensure the dollar maintains its global dominance.

In terms of global trade, he also defended Trump's invocation of the International Emergency Economic Powers Act ) IEEPA ( to launch the “reciprocal tariff” plan, emphasizing that this move aims to impose high tariffs on the fentanyl crisis that claims over 200,000 lives each year, while also using reciprocal tariffs to compel countries to reduce tariffs and subsidies on the U.S., correct the long-term massive trade deficit, and has negotiated commitments including China's pledge of $550 billion in investment and the trillion-dollar business opportunities brought by U.S.-South Korea negotiations.

He believes that the United States Supreme Court will not block President Trump from exercising his economic emergency powers, and even if it is ultimately overturned, there is already a backup plan, although the process will be more complicated.

) U.S. Treasury Secretary Bessent: The U.S.-China trade truce may be extended for another 90 days, and a 100% tariff will be imposed on the import of Iranian oil.

This article Treasury Secretary Bessent: Fed data is seriously distorted, Powell should accelerate interest rate cuts. First appeared in Chain News ABMedia.