False Reports About US Treasury Secretary Statements on Rate Cuts

Key Information Regarding Federal Reserve Policy

A report surfaced on November 2nd suggesting that a person named Bessant proposed the Federal Reserve should implement interest rate cuts if inflation trends downwards. This report has been noted to conflict with primary data sources, raising questions about its accuracy and potential impact on market stability.

It is crucial to note that there is no evidence of statements from a US Treasury Secretary named Bessant concerning interest rate adjustments. Official records indicate that Janet Yellen holds the position of Secretary of the Treasury until 2025. Interest rate policy decisions are exclusively made by the Federal Open Market Committee (FOMC), which operates under the Federal Reserve and is currently chaired by Jerome Powell.

Market observers have maintained a cautious stance, emphasizing that no recognized individual named Bessant occupies the role of US Treasury Secretary. Historically, all monetary policy measures, including rate decisions, are determined by the FOMC and communicated through official press releases and statements from the Federal Reserve Chair.

"The FOMC continues to carefully monitor inflation trends and will respond appropriately based on economic data." — Jerome Powell, Chair, Federal Reserve

Financial markets have responded with muted activity, showing no significant shifts following the circulation of these unconfirmed reports. The financial sector's expectations continue to be guided by validation from established official institutions. Market participants and analysts are focusing their attention on confirmed FOMC minutes and official announcements for guidance.

Market Stability Amidst Speculation

The Federal Open Market Committee, the body responsible for setting U.S. interest rates, comprises 12 members and is chaired by Jerome Powell. No official statements have been issued by an individual named "Bessant," underscoring the importance of verifying information against primary sources.

As of the latest update on November 2, 2025, Ethereum (ETH) is trading at $3,845.33, according to data from CoinMarketCap. Its market capitalization is $464.12 billion, accounting for 12.53% of the total cryptocurrency market. Over the preceding 24 hours, ETH recorded a trading volume of $20.23 billion, a decrease of 26.82%. Price movements over the past month show a downward trend, with a 0.45% decline in the last 24 hours.

The Coincu research team observes the continued stability within digital asset markets, even in the presence of unsubstantiated reports. Historical market behavior demonstrates the critical role of credible data and clear communication from regulatory bodies in shaping investor sentiment and influencing market dynamics.