贝森特质疑美联储判断：两年期美债收益率走势表明基准利率过高

Group 1 - The U.S. Treasury Secretary, Becerra, questions the Federal Reserve's judgment on interest rates, suggesting that the two-year U.S. Treasury yield indicates that the benchmark rate is too high [1] - Becerra emphasizes that the current actual interest rates are very high when adjusted for inflation, and he suggests that if the Fed does not lower rates, the potential cut in September could be larger [1] - The futures market indicates that traders expect the Fed to cut rates by at least 25 basis points in the September meeting, while no changes are anticipated in July [1] Group 2 - Becerra refrains from commenting on calls for Fed Chair Powell's resignation but suggests that the Fed should manage its spending like other agencies [2] - He hints at the possibility of Powell leaving the Fed after his term ends in May 2026, despite Powell's term as a governor lasting until 2028 [2] - Becerra notes a divergence in expectations among Fed policymakers based on their appointing authority, indicating a split between Trump-appointed officials and others [2] Group 3 - Becerra highlights that the upcoming legislation includes an increase in the federal debt ceiling, which he believes will support the government until 2027 [3] - The Treasury has been using special accounting measures to meet federal payment obligations without exceeding the debt limit, and plans to increase short-term Treasury sales once the legislation is signed [3] - He mentions that the debt management process is orderly, but acknowledges that the two-year Treasury yield will be considered in their strategies [3] Group 4 - Becerra states that decisions regarding debt maturity arrangements will be made in the coming months, with the next quarterly refinancing announcement expected on July 30 [4] - He avoids commenting on the White House economic advisor's claim that Trump policies will reduce the fiscal deficit by $11 trillion over the next decade, citing the difficulty of predicting long-term borrowing scenarios [4]