Crypto and financial markets remain steady amidst misinformation.
PANews reported on November 2nd that a person named Bessant suggested the Federal Reserve should cut interest rates if inflation decreases, despite no official confirmation.
This report conflicts with primary data, raising questions about its validity and potential implications on market stability.
No primary sources confirm any statements by a US Treasury Secretary named Bessant regarding Federal Reserve rate adjustments, and official records list Janet Yellen as Secretary until 2025. Interest rate policy remains under the Federal Open Market Committee (FOMC) controlled by the Federal Reserve, currently chaired by Jerome Powell.
Market observers remained cautious, emphasizing no recognized individual named Bessant holds the US Treasury Secretary position. Historically, FOMC decisions, communicated by official press releases and the Fed Chair, determine rate policy measures.
“The FOMC continues to carefully monitor inflation trends and will respond appropriately based on economic data.” — Jerome Powell, Chair, Federal Reserve Federal Reserve Statements
Financial market responses were muted, without major shifts following the dissemination of these reports. Consistent validation from official institutions continues to guide the financial sector’s expectations. Market participants and analysts focus on confirmed FOMC minutes and announcements.
Did you know? The Federal Open Market Committee, responsible for setting U.S. interest rates, consists of 12 members and is chaired by Jerome Powell. No official statements were made by a “Bessant,” reflecting the importance of verifying information from primary sources.
As of the latest update on November 2, 2025, Ethereum (ETH) is priced at $3,845.33 according to CoinMarketCap data. Its market capitalization stands at $464.12 billion, representing 12.53% of the total crypto market. ETH’s trading volume over the last 24 hours was $20.23 billion, marking a 26.82% decrease. Price changes indicate a downward trend over the past month, with a 0.45% decline in the past 24 hours.
