U.S. Treasury Secretary Scott Bessent, in an interview with Kudlow, stated his hope that the Federal Reserve would "keep an open mind" and suggested that Fed Chair Warsh should be more like Alan Greenspan in the mid-1990s in his policy approach, rather than the European Central Bank which chose to raise interest rates during the 2008 oil price shock. Bessent pointed out that there is currently a "private sector demand shock, which is getting more supply through deregulation."