Economy Bessent says Trump is focused on the 10-year Treasury yield and won’t push the Fed to cut rates

 President Trump wants to lower rates, Bessent says he will do so by using the 10-year treasury bond, not the federal funds rate. In September, the Fed used a rare-cutting cycle to lower the fed funds rate by 100 basis points. Trump believes that if they deregulate the economy, the rates will take care of themselves. The 10-year last traded at 4.45%. Trump not commanding the Fed to lower rates could ease tension between the two.

https://www.cnbc.com/2025/02/06/bessent-says-trump-is-focused-on-the-10-year-yield-wont-push-fed-to-cut-rates.html