$BTC $ETH $BNB Market participants widely expect that the Federal Reserve is likely to deliver its first rate hike since 2023 this week. This view sharply clashes with U.S. President Trump’s repeatedly stated position calling for rate cuts.
On the eve of the hearing, faced with a wall of media cameras and questions, Bessent attempted to pin the surge in long-term U.S. Treasury yields on external factors. He said that the recent rise in Treasury yields is not unique to the United States, but rather a global phenomenon. He further pointed out that the continued upward trend in oil prices is the main driver behind the climb in yields.
Many in the market are concerned that high interest expenses on government debt will heavily crowd out budget allocations for key areas such as defense and social security. In a congressional hearing, Bessent worked to send optimistic signals and vouch for the U.S. economy’s fundamentals. He denied that the U.S. is sliding toward stagflation, saying that an industrial super-cycle driven by large-scale investment is already beginning in the United States. In his remarks, nonfarm payroll data remains resilient, real wage growth has already outpaced inflation, and the U.S. economy still has solid support.
On the eve of the hearing, faced with a wall of media cameras and questions, Bessent attempted to pin the surge in long-term U.S. Treasury yields on external factors. He said that the recent rise in Treasury yields is not unique to the United States, but rather a global phenomenon. He further pointed out that the continued upward trend in oil prices is the main driver behind the climb in yields.
Many in the market are concerned that high interest expenses on government debt will heavily crowd out budget allocations for key areas such as defense and social security. In a congressional hearing, Bessent worked to send optimistic signals and vouch for the U.S. economy’s fundamentals. He denied that the U.S. is sliding toward stagflation, saying that an industrial super-cycle driven by large-scale investment is already beginning in the United States. In his remarks, nonfarm payroll data remains resilient, real wage growth has already outpaced inflation, and the U.S. economy still has solid support.