Treasury Secretary Scott Bessent emphasized that the Trump administration’s priority is to lower 10-year Treasury yields, not the Fed’s benchmark interest rate. Bessent highlighted the importance of energy supply expansion to curb inflation, particularly for working-class Americans. He noted that cutting energy prices and reducing government spending are keys to improving long-term inflation expectations and fostering economic optimism. The administration’s 3-3-3 policy—lowering the fiscal deficit, boosting oil production, and sustaining growth—aims to achieve these goals while steering clear of direct Federal Reserve interventions.
