Analyst: Powell is taming the 10-year Treasury yield through a tough stance on inflation.

Ed Yardeni, president and chief investment strategist of Yardeni Research, stated that he believes Powell is trying to lower borrowing costs through tough talk - lowering government bond yields affecting mortgage rates and car loans: "We believe the Treasury and the Fed have reached a new agreement to lower the 10-year Treasury yield, Bernanke and Powell are working as a team, and have persuaded Trump that the best way to lower borrowing costs is to take a tough stance on inflation and raise rates when necessary. This should lower bond yields, stimulating the economy." Recently, Bernanke acknowledged the influence of the bond market and Trump's recognition of it. Bernanke said on June 23 at the New York Economic Club: "The government overturned by the bond market is more than a grenade."