CNBC: 10-year Treasury yield ticks higher after Bessent reassures market over Powell’s position

U.S. Treasury Secretary Scott Bessent’s comments that Fed Chair Jerome Powell does not need to resign gave yields a boost Wednesday as markets turn their attention to the next interest rate decision.

Co-CIO David Aspell shared insights with Sean Conlon at CNBC, ahead of the July FOMC meeting, emphasizing the importance of maintaining its credibility and independence.

“Bond yields are moving on Fed talk. A lot of political pressure is being put on Powell and the FOMC to lower rates.”

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