Scott Bessent said Iran negotiations are progressing with identified interlocutors representing different parts of the Iranian government. He said he is less focused on near-term IMF and World Bank forecasts, which he suggested may be overstated, and emphasized longer-term economic stability. Bessent said the Federal Reserve could observe before cutting rates but will eventually need to lower them, adding policy should wait until Kevin Warsh is in place as Fed chair. He also said he expects Iran

Scott Bessent said Iran negotiations are progressing with identified interlocutors representing different parts of the Iranian government. He said he is less focused on near-term IMF and World Bank forecasts, which he suggested may be overstated, and emphasized longer-term economic stability. Bessent said the Federal Reserve could observe before cutting rates but will eventually need to lower them, adding policy should wait until Kevin Warsh is in place as Fed chair. He also said he expects Iran-related tensions to ease, with prices declining, and described weak global growth as the main risk to stability.