Gate News message, April 14 — US Treasury Secretary Scott Bessent said he is confident that core inflation will continue to decline in the United States despite the ongoing Iran war, and reiterated his call for the Federal Reserve to cut interest rates. Bessent acknowledged the Fed may want to observe economic developments related to the war before cutting rates, adding that it would make sense for President Trump’s Fed chair nominee, Kevin Warsh, to lead the next cycle of monetary adjustments.
US consumer prices rose by the most in nearly four years in March as the war drove a record surge in gasoline and diesel costs, dealing a blow to Trump’s approval ratings. The conflict has sent global crude oil prices surging as much as 50%, with the national average retail gasoline price breaking above $4 per gallon for the first time in more than three years. Core prices excluding food and energy rose less.
Trump’s nomination of Warsh to succeed Jerome Powell as Fed chair is currently stalled due to objections by Republican Senator Thom Tillis, who is blocking all Fed nominees until a Justice Department criminal investigation of Powell is closed. Powell has said he will stay on as chair temporarily if Warsh is not confirmed by the time his term expires in May.
Bessent said the Treasury has reached a deal with Tillis to allow Warsh’s nomination hearing to proceed, which could happen next week, but provided no further details.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
TradFi Fall Alert: USDHUF (US Dollar vs Hungarian Forint) Falls Over 0.5%
Gate News: According to the latest Gate TradFi data, USDHUF (US Dollar vs Hungarian Forint) has dropped by 0.5% in a short period. Current volatility is significantly higher than recent averages, indicating increased market
GateNews2h ago
ECB Likely to Hike by 25bp in June, Possibly Only Once This Year, Economists Survey Shows
Economists anticipate a 25 basis point rate hike by the European Central Bank in June 2026, primarily due to rising energy prices linked to the Iran conflict. While inflation is expected to peak at 2.8%, it should moderate in subsequent years, alongside muted economic growth forecasts for the Eurozone. The ECB remains cautious about potential future hikes amid uncertain geopolitical conditions.
GateNews3h ago
Southbound Funds Record Net Inflows Exceeding HKD 10 Billion
Gate News message, April 17 — Southbound funds through Hong Kong Stock Connect recorded net inflows exceeding HKD 10 billion as of today.
GateNews4h ago
熱錢湧進台灣！新台幣匯率強升逾 1.2%，創近一個半月新高
This week's strong rebound of the New Taiwan Dollar was driven by significant foreign investment in the Taiwan stock market. The exchange rate rose to a 1.29% increase, reaching a recent high. However, the central bank is monitoring these changes to prevent excessive appreciation affecting export competitiveness.
ChainNewsAbmedia5h ago
Hong Kong Interbank Rates Rise Across All Tenors; One-Month HIBOR Climbs to 2.55%
On April 17, Hong Kong interbank offered rates (HIBOR) increased across all tenors, with the one-month rate rising to 2.55143% and overnight rates hitting the highest level since January at 3.36536%.
GateNews5h ago
Former Treasury Secretary Paulson: Contingency plan for a U.S. debt crisis must be prepared in advance; consequences will be very severe
Former U.S. Treasury Secretary Henry Paulson urged U.S. authorities to draw up contingency plans to address a potential collapse in demand for U.S. national debt when he was interviewed by Bloomberg on April 17, 2026 (Thursday). He said that once a crisis erupts, the consequences would be extremely severe. On the same day, the U.S. Department of the Treasury completed the largest debt buyback in a single transaction in history, accepting approximately $15 billion in old bonds maturing from 2026 to 2028.
MarketWhisper6h ago
