Bessent, Cleveland Fed Chief Expect the Fed to Exercise Caution on Interest Rates

Federal Reserve Chair Jerome Powell arrives to speak at a news conference following the Federal Open Market Committee meeting in Washington on Oct. 29, 2025. Madalina Kilroy/The Epoch TimesU.S. officials, including Treasury Secretary Scott Bessent and Cleveland Fed President Beth Hammack, are expecting the Federal Reserve to take a wait-and-see approach to interest rates amid the Iran war.Bessent, who has repeatedly urged the central bank to lower interest rates, said he would “understand” if officials waited to see what happens with war and inflation expectations.