President Trump downplays bond volatility as 30-year Treasury yield tops 5.3%

President Trump dismissed concerns about bond-market volatility and urged lower interest rates during a Wednesday meeting with cryptocurrency executives at the White House. The 30-year Treasury bond yield exceeded 5.3% on Tuesday, its highest level since April 2007, as long-term borrowing costs reached elevated levels worldwide. The Treasury Department responded by doubling the maximum amount of long-term debt it can buy back from $2 billion to $4 billion, effective Sept. 9. Trump has repeatedly pressed the Federal Reserve to cut rates, but the central bank has not indicated that it intends to do so. Minutes from last month’s meeting of the Federal Open Market Committee and the Fed’s Board of Governors said policy tightening could be necessary if inflation failed to decline, with some participants saying a rate increase could prevent steeper and more costly tightening later.

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