President Trump said on Wednesday that the Federal Reserve board "wants to see
the country perform poorly" when asked about mortgage rates, noting 30-year
mortgage rates rose last week to their highest in nearly three years. He called
Fed Chair Kevin Warsh "very good" but added that other Fed board members, in his
view, prefer weaker performance because he believes rates should be cut.
Treasury Secretary Bessent said inflation is elevated due to an energy shock and
that once the Iran conflict is resolved, energy supply should normalize and
inflation should move toward the Fed's target, pushing mortgage rates and the
10-year US Treasury yield lower.
