William Pesek

Not Much Stagflation Today

Earlier this year, US Treasury Secretary Scott Bessent said that he and President Donald Trump were focusing on the 10-year Treasury bond yield as a key metric for economic health, rather than the Fed's short-term interest rate. He stated, "He and I are focused on the 10-year Treasury," indicating a strategy to manage borrowing costs through fiscal policy rather than pressuring the Fed to cut rates.