US Treasury Secretary Bessent: We aren't focused on whether the Fed will cut
Source Fxstreet
US Treasury Secretary Scott Bessent hit newswires on Thursday, touching on a variety of topics that suggest the President Donald Trump's administration will achieve both US Dollar (USD) strength and a general decline in Treasury yields at the same time. Treasury Secretary Bessent also noted that hew had met with Federal Reserve (Fed) Chair Jerome Powell, but also stated that the US administration was not particularly concerned about the Fed's trajectory on interest rates.
Key highlights
There's a lot of misinformation about DOGE and the Treasury.
There are 2 Treasury officials, no tinkering.
DOGE has absolutely not had the power to change the system.
I won't allow DOGE to change the Treasury system.
No engagement at the IRS as yet on the part of DOGE.
Strong dollar policy completely intact under Trump.
China most unbalanced economy in the history of the world.
I am happy to see the trajectory of borrowing is dropping.
I don't see changes in issuance in the foreseeable future.
We aren't focused on whether fed going to cut or not.
With Trump's policies, 10-year yields are to naturally come down.
Tariffs could have a small one-time price adjustment.
I see China eating some tariffs no matter the level.
The best for predictability is to make tax cuts permanent.
I have met with Powell and had a very constructive discussion.
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