Treasury Secretary Scott Bessent hinted the Federal Reserve ought to consider cutting rates by pointing to how shorter-dated Treasury yields, which are sensitive to monetary-policy expectations, have moved steadily lower in recent weeks.

The Treasury Secretary pointed to two-year Treasury yields as a signal that the market is ready for interest rate cuts from the Fed.

Treasury Secretary Scott Bessent said on Thursday that the bond market is telling the Fed to get moving on rate cuts, ahead of his weekly meeting with Chairman Jerome Powell. Speaking on Fox Business Network on Thursday,