A lot of people interpreted your comments at the October meeting that you know when there's a foggy [clears throat] situation we slow down to mean that you know there wouldn't be a cut now there'd be a cut in January instead. So it'd be good to get a sense of why did the committee decide to move today rather than to move in January instead. Thank you.>> Right. So in October I said um that there was no certainty of moving and that was uh that was indeed correct. I said it's possible you could think about it ...

(Bloomberg) — Treasury Secretary Scott Bessent said that a key theme of his interviews for the next chair of the Federal Reserve has been simplifying the US central bank, which he indicated has become too complex in how it manages money markets. Most Read from Bloomberg “One of the things in terms of the criteria that I’ve been looking for” has been the interplay of the Fed’s various instruments, Bessent said on CNBC Tuesday. “I realize the Fed has become this very complicated operation.” Bessent said h ...