US Treasury Secretary Scott Bessent says the Federal Reserve's benchmark interest rate should be at least 1.5 percentage points lower than it is now. He also talks about replacing Fed Chair Jerome Powell, reaching a deal with China to let them use Nvidia chips, President Donald Trump's upcoming meeting with Russia's Vladimir Putin and Trump's pick to lead the Bureau of Labor Statistics. He speaks to Bloomberg's Jonathan Ferro and Annmarie Hordern on "Bloomberg Surveillance."