Economic Policies

Trump Doesn’t Need the Fed to Lower Interest Rates: Scott Bessent

‘He and I are focused on the 10-year Treasury,’ Treasury Secretary Scott Bessent said in an interview.
Trump Doesn’t Need the Fed to Lower Interest Rates: Scott Bessent
Scott Bessent, President-elect Donald Trump's nominee for Treasury secretary, testifies before the Senate Committee on Finance at the U.S. Capitol on Jan. 16, 2025. Madalina Vasiliu/The Epoch Times
Andrew Moran
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President Donald Trump does not need the Federal Reserve to ease monetary policy to lower interest rates, and is focusing on 10-year Treasury yields instead, Treasury Secretary Scott Bessent said on Thursday.

In an interview with Fox Business host Larry Kudlow, Bessent acknowledged that the White House aims to lower long-term interest rates. However, the Federal Reserve’s implementation of more rate cuts is not the only mechanism that can facilitate a low-rate environment.
Andrew Moran
Andrew Moran
Author
Andrew Moran has been writing about business, economics, and finance for more than a decade. He is the author of "The War on Cash."