Treasury Secretary Scott Bessent reaffirmed the Trump administration’s economic strategy Wednesday, emphasizing plans for trade alliances with key partners to counter China while brushing off fears of a financial meltdown.
Treasury Secretary Scott Bessent has announced a strategy to reduce long-term interest rates, focusing on lowering the 10-year U.S. Treasury yield. His plan, independent of the Federal Reserve’s monetary policy, emphasizes deregulation, tax cuts, and significant reductions in federal spending to stabilize interest rates and ease inflation. Bessent explained that fiscal policy adjustments, such as cutting wasteful government spending, could encourage economic growth without triggering inflation.
