At the Economic Club of Minnesota, Treasury Secretary Scott Bessent said the U.S. is poised for powerful economic growth in 2026 and that the Fed should lower interest rates. Bessent reviewed everything the White House did last year on trade, deregulation, and taxes before concluding with this: "The White House can only do so much; at a certain point, the Federal Reserve must also do its part to spur investment." Bessent called for the Fed to follow the example of former Chairman Alan Greenspan, who resisted calls to raise interest rates in 1996-97 but who then aggressively raised rates in 1999-2000. "The Fed needs to have merely an open mind. The open-mind maestro, former Fed Chairman Alan Greenspan, resisted premature rate hikes during the technology boom of the 1990s—and history proved him right."(Nick Timiraos)