According to a CNBC report, Bessent will propose a new approach for the FSOC in a bid to allow the monitoring body to adopt a freer process when it comes to the regulation and oversight of institutions under its mandate.
Small businesses registered a net decline of 120,000 employees during the month, while mid-sized and large businesses added 90,000 employees on a net basis.
assett’s comments came in an interview with Fox, where he stated that U.S. equity markets celebrated once it became clear that President Donald Trump was inching closer to a decision.
The economist pointed to Trump appointee to the Fed, Michelle Bowman, advocating for loosening capital requirements, and the passing of the GENIUS Act as threats to financial stability.
Data from popular prediction markets Kalshi and Polymarket show that bets regarding the Fed Chair pick on both platforms are now worth over $9 million.
The economist noted in a post on X that the decline in consumers’ expectations of the future condition was due to a “mix of lingering price worries and growing employment income insecurity.”
The latest report comes weeks before the Federal Reserve is set to decide on its monetary policy direction and take a call on whether a rate cut in December is needed.
