Treasury Secretary Scott Bessent has a new plan in the fight to bring down historically high interest rates, and it’s got nothing to do with the Federal Reserve.

Treasury Secretary Scott Bessent said Donald Trump is not asking the Federal Reserve to lower its short-term interest rates, but what he and the president do want is to bring down longer-term borrowing costs via 10-year Treasury yields (^TNX).

Scott Bessent, president Donald Trump’s handpicked Treasury Secretary, put an end to the speculation during a Wednesday interview on Fox Business. The

The Federal Reserve on Wednesday kept interest rates unchanged, bypassing a trend of dropping cuts and bucking President Donald Trump's wishes amid uncertain economic times,

Treasury Secretary Scott Bessent said Donald Trump is not asking the Federal Reserve to lower its short-term interest rates, but what he and the president do want is to bring down longer-term borrowing costs via 10-year Treasury yields.

The Trump administration isn't looking to clash with the Federal Reserve over interest rates, Treasury Secretary Scott Bessent told said. Instead, the focus of the White House is on lowering Treasury yields as a way to ease borrowing costs.

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,