US Treasury's Bessent says stronger growth will drive real wages higher, rates lower

WASHINGTON, Feb 5 (Reuters) - U.S. Treasury Secretary Scott Bessent said on Wednesday he wants to drive wages higher to address affordability challenges for Americans by increasing energy production, making expiring tax cuts permanent and energizing private sector growth in the economy.

"We're going to bring down inflation, we're going to cut regulations and we are going to get the tax cuts," Bessent told Fox Business Network in a live interview. "The goal is still for them to be made permanent."

Bessent said while President Donald Trump wants lower interest rates, he will not ask the Federal Reserve to cut rates. If the economy is deregulated with more private sector investment, "interest rates will take care of themselves and the dollar will take care of itself."