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Trump Treasury secretary Scott Bessent relives some pressure on the Fed

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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.
The article from AOL Finance discusses Scott Bessent, a former Trump Treasury official, who has emerged as a potential vice presidential running mate for Donald Trump in the upcoming election. Bessent, who served as a counselor to the Treasury Secretary, has been actively engaging with Trump, attending fundraisers, and even hosting events for him. His background includes managing a hedge fund and having a deep understanding of financial markets, which could appeal to Trump's focus on economic issues. Bessent's political alignment with Trump, especially on economic policies like tax cuts and deregulation, makes him a fitting candidate. However, his selection would also need to consider the political optics and the balance of appealing to both the GOP base and swing voters. The article also touches on Bessent's personal life, mentioning his marriage to a former Russian model, which could be a point of discussion or scrutiny in the political arena.

Read the Full AOL Article at:
[ https://www.aol.com/finance/trump-treasury-secretary-scott-bessent-145050066.html ]