Bessent says Trump is focused on the 10-year Treasury yield and won't push the Fed to cut rates
1. Trump administration prioritizes low Treasury yields over Fed policy. 2. Current strategy focuses on fiscal policy rather than rate cuts. 3. 10-year Treasury yield recently traded at 4.45%, down from 4.8%. 4. Lower rates expected to support equity markets and housing. 5. Bessent aims to prevent 10-year yields from exceeding 5%.