This could trigger significant fluctuations in Federal Reserve assets when foreign governments cancel the custody of gold, leading to a roller coaster of exchange rates.

U.S. Treasury Secretary Scott Bessenet is working to lower interest rates, but his strategy is vastly different from President Trump's. Bessenet does not intend to achieve this goal by pressuring the Federal Reserve for further rate cuts, but rather hopes to lower yields by adjusting the structure of Treasury bond issuance and balance sheet operations.

Since September of last year, the Federal Reserve has lowered the short-term policy rate by 1 percentage point, yet U.S. Treasury yields have risen instead of falling. The 10-year Treasury yield is nearly 1 percentage point higher than it was when the Federal Reserve first cut rates. As the "Chief Financial Officer" of the U.S., Bessenet might attempt to lower market interest rates through some fiscal measures or accounting tricks (such as revaluing gold reserves), but how feasible are these suggestions? Below is an analysis from the UK (Financial Times) Monetary Policy Radar team.