Trump complains again that interest rates are too high, US bond yields decline.

U.S. Treasury yields are falling as Trump increases pressure on Powell, calling for a significant interest rate cut. Trump posted on the social media platform Truth Social, stating that the federal funds rate is at least 3 percentage points too high. Trump is looking for a new candidate for Federal Reserve chair and has made it clear that he hopes to select someone whose monetary policy views align with his own. CME data shows that the market generally expects the Federal Reserve to keep interest rates unchanged at the meeting later this month. Traders are mainly betting that the Federal Reserve will cut rates by 25 basis points at the September meeting. Against this backdrop, U.S. Treasury yields are trending towards the end of a five-day streak of increases in previous trading sessions.