Treasury Secretary Bessent’s 10yr Scorecard – Above 4.62% and he gets a failing grade
The idea was lower government deficits would bring down inflation and bring down interest costs for all Americans.
The budget reconciliation process is leading to a likely outcome of larger deficits and higher inflation and as a result, the bond market is currently not amused.
A few Freedom Caucus members of the Republican party seem to be the last line of defense against the bond vigilantes.
Trump meets with them at 3pm
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