U.S. Treasury Secretary Basent has suggested that the Federal Reserve should seriously consider cutting interest rates by 50 basis points in September to stimulate economic growth. He also mentioned that if accurate and timely data had been available earlier, the Fed could have taken this step as early as June. Basent pointed out that former President Donald Trump is open to selecting a new Fed chairman, with the aim of finding someone capable of reshaping the institution. He stressed that there is a fundamental issue within the Fed that needs to be addressed to ensure better decision-making and economic stability.