<p>U.S. Treasury Secretary Janet Yellen: The market is digesting expectations of a 75 basis point rate cut from now until the end of the year</p>

- On Tuesday, U.S. Treasury Secretary Basant stated that the Federal Reserve has been slow to respond, with a 25 basis point rate cut already priced in by the market, which anticipates a total of 75 basis points in cuts by year-end.  
- He noted that the job market is balanced and questioned whether the Fed aims for a neutral or accommodative stance, highlighting an inverted yield curve.  
- Regarding personnel changes at the Fed, Basant mentioned that Milan's transition from the White House to the Fed is normal, and discussions with former St. Louis Fed President Bullard have been positive, as Bullard understands the Fed's operations well.