US Treasury Secretary Mnuchin: Expectation of Fed cutting interest rates by 25 basis points tomorrow has been digested.

US Treasury Secretary Scott Besent said that the market has already priced in a 25 basis point interest rate cut. Besent said on CNBC, "We will see whether the Fed chooses to maintain a neutral stance or shift to accommodative." He noted, "I think the market has already priced in a total of 75 basis points of rate cuts by the end of the year." "The front end of the yield curve has already inverted," while the long end "remains very anchored."