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Bessent Calls for Urgent Federal Reserve Reform Amid Predictive Model Failures

He welcomed the recent 25 basis point rate cut and will interview Fed chair candidates in December ahead of President Trump’s Christmas appointment.

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Terms & Concepts
  • Basis Point: A unit equal to one hundredth of a percentage point, commonly used to express changes in interest rates or yields.
  • Federal Reserve: The central banking system of the United States, responsible for monetary policy, regulation, and maintaining financial stability.