CNN —
Treasury Secretary Scott Bessent has a new plan in the fight to bring down historically high interest rates, and it’s got nothing to do with the Federal Reserve.
Bessent, in two interviews this week, said the Trump administration wants to focus on lowering long-term interest rates, which are largely influenced by the yield on the 10-year US Treasury note. The Fed’s decisions, on the other hand, have a more direct effect on short-term interest rates, which control borrowing costs for Americans.
On his fourth day in office, President Donald Trump said he
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