Bessent Says Trump Wants Lower 10-Year Yields, Not Fed Cuts
- Treasury chief highlights importance of energy in inflation
- Asked about DOGE, Bessent says payments not being touched
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Treasury Secretary Scott Bessent said the Trump administration’s focus with regard to bringing down borrowing costs is 10-year Treasury yields, rather than the Federal Reserve’s benchmark short-term interest rate.
“He and I are focused on the 10-year Treasury,” Bessent said in an interview with Fox Business Wednesday when asked about whether President Donald Trump wants lower interest rates. “He is not calling for the Fed to lower rates.”