US Treasury Secretary Bessent supports Fed’s elimination of forward guidance
US Treasury Secretary Scott Bessent has expressed strong support for the Federal Reserve's decision to eliminate forward guidance. He criticized the Fed's economic projections as misleading and called for a shift towards real-time data. Bessent's views align with those of potential future Fed Chair nominee Kevin Warsh, who advocates for reducing reliance on long-term forecasts.
- ▪Bessent described the Fed's Summary of Economic Projections as an 'embarrassment' and suggested it should be abolished.
- ▪He highlighted that the Fed's two-year GDP projections overstated growth by 7.6% from 2010 to 2016.
- ▪Bessent's criticism includes a significant error in inflation projections, missing the 2021 PCE inflation rate by 4 percentage points.
Opening excerpt (first ~120 words) tap to expand
US Treasury Secretary Bessent supports Fed’s elimination of forward guidance Bessent called the Fed's Summary of Economic Projections an 'embarrassment,' backing a shift toward real-time data over crystal-ball forecasting. Share Add us on Google by Editorial Team May. 29, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); Scott Bessent has never been a fan of the Federal Reserve’s forecasting habit.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Crypto Briefing.
Discussion
0 commentsMore from Crypto Briefing
