- President Donald Trump has pledged to lower borrowing costs for Americans, but hotter-than-expected inflation data on Wednesday signaled that will be easier said than done. Wall Street is reckoning with the possibility that the Federal Reserve will not cut rates at all this year, and the yield on the benchmark 10-year Treasury surged over 4.6%.
President Trump has not been shy about his desire to see interest rates come down as a way to offset rising costs related to his tariff policies. He didn’t get good news on that front on Wednesday morning, however, as the latest batch of inflation data came in hotter than expected, underlining significant obstacles to the president’s pledge to make borrowing costs cheaper for Americans.
