US Treasury Secretary Scott Bessent has clarified that the Trump administration’s focus is on lowering 10-year Treasury yields, rather than cutting short-term interest rates set by the Federal Reserve. In an interview with Fox Business, Bessent stated that President Donald Trump aims to reduce borrowing costs through long-term yield adjustments, not the Fed’s benchmark rate reductions.
Source: https://www.bloomberg.com/news/articles/2025-02-05/bessent-says-he-trump-focus-on-10-year-yields-not-pushing-fed