President Trump said Sunday night that the Federal Reserve was right to keep interest rates unchanged at its policy meeting last week. "I'm not surprised," he told reporters when asked for his reaction to the central bank's decision to hold borrowing costs steady following three consecutive rate cuts at the end of 2024.

Treasury Secretary Scott Bessent, shown at a confirmation hearing, said President Donald Trump is "not calling for the Fed to lower interest rates." AFP President Donald Trump is focused on 10-year Treasury yields to bring down borrowing costs rather than the Federal Reserve actions on short-term interest rates,

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.