The Trump administration is more focused on keeping Treasury yields low rather than on what the Fed does, Treasury Secretary Scott Bessent said. Bessent indicated that Trump will not be hectoring the Fed to cut,

Treasury Secretary Scott Bessent appeared on FOX Business Network's "Kudlow" and urged Republicans to make President Trump's tax cut permanent, rather than a temporary extension.

The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.