Trump pushes for rate cuts as mortgage costs hit 3-year high; Bessent cites growth

President Trump publicly urged the Federal Reserve to lower interest rates as US mortgage costs approach a three-year high, while Treasury Secretary Scott Bessent attributed rising Treasury yields to strong economic growth rather than inflation. Trump also predicted a sharp fall in oil prices after the war, adding to pressure on the Fed. The divergence between political pressure and economic data creates uncertainty over the Fed's policy path.