US Bessent: I wouldn’t put too much emphasis on one inflation number | Forexlive

• It is important to look at trend, inflation not accelerating
• I haven’t seen today’s CPI figures yet.
• Trump said many times he’s not going to fire Powell.
• The Fed had big forecasting errors and there may be one now.
• Independent central bank very important for policy.
• The formal process for Powell successor already started.
• There are a lot of good candidates in and outside of the Fed.
• Successor pick will happen at Trump’s speed.
• We’re in a good place on China now.
• I expect to meet Chinese counterpart in next few weeks.
• I am not going to rush deals because of some market deadline.

The Fed and high ranking officials get to see the data the evening before the release. Nonetheless, they refrain from making comments or statements ahead of the actual release.

This could be read as a signal that the inflation report might be higher than expected, but worth to remind that people also speculated the same thing for the NFP when Trump made comments about Powell being too late, but eventually it turned out that the data was much better than feared.

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