ECONOMY

Bentsen Urges Caution on Rates: Treasury Secretary Lloyd Bentsen warned the Federal Reserve Board against overdoing its anti-inflation campaign. Speaking one day before the central bank was to meet to map monetary strategy, Bentsen said inflation remains low and the economy has yet to feel the full impact of the Fed’s repeated rate increases this year. He said growth needs to slow moderately to prevent the economy from overheating, but “that’s the problem: being sure you just slow it moderately.” The Fed is widely expected to bump up rates again by at least half a percentage point at its policy-setting meeting today.