U.S. Treasury Secretary Bessent praised Fed Chair Kevin Warsh's decision to
remove forward guidance and said no one should try to forecast the dot plot. He
expects real wage growth to return to its pre‑April pace and for the economy to
accelerate through the remainder of the year without lifting inflation. Bessent
emphasized the strategic importance of dollar dominance, saying Russia would
seek to rejoin the dollar system after the Ukraine conflict ends and that
Venezuela is returning to the system. He said the dollar can remain strong even
during rate cuts and that the U.S. is prepared to take measures to support
dollar strength. On Iran, Bessent said the Treasury will supervise distribution
of Iranian funds, initially routed through Qatar, with a large portion
designated for U.S.-regulated purchases of food and medicine, and that any funds
received by Iran should belong to the Iranian people.
