US Treasury Sec Bessent: Focus is on bringing down 10-year Treasury yields than Fed’s key short-term rate.

US Treasury Secretary Scott Bessent said late Wednesday, the “focus is on bringing down 10-year Treasury yields, rather than the Fed’s benchmark short-term interest rate.”

Additional comments

Failure to get the tax bill done will result in the "largest tax hike in history".

US President Donald Trump wants lower interest rates.

Trump not calling for the Fed to lower interest rates.

Interest rates will take care of themselves if we get energy costs down and deregulate the economy.

Tariffs are not focused on revenue right now.

Tariffs are aimed at bringing manufacturing base back to the US.

Market reaction

The US Dollar Index (USD) shows little to no reaction to these comments, trading modestly flat around 107.65, as of writing.