According to Jin10 data, U.S. Treasury yields have fallen as Trump intensifies pressure on Powell, demanding significant rate cuts. Trump posted on social media platform Truth Social that the current federal funds rate is at least 3 percentage points too high.
Trump is looking for a new Federal Reserve chair and has made it clear that he hopes to choose someone whose monetary policy views align with his. CME data shows that the market generally expects the Federal Reserve to keep interest rates unchanged at its meeting later this month.
Traders mainly bet that the Federal Reserve will cut rates by 25 basis points at the September meeting. Against this backdrop, U.S. Treasury yields are heading towards ending a trend of five consecutive trading days of increases.