Treasury Secretary Scott Bessent has a new plan in the fight to bring down historically high interest rates, and it’s got nothing to do with the Federal Reserve.

Treasury Secretary Scott Bessent appeared on FOX Business Network's "Kudlow" and urged Republicans to make President Donald Trump's tax cut permanent, rather than a temporary extension.

The secretary replaces Rohit Chopra, who had aggressively sought to expand the bureau’s authority over banks and other financial firms.

Treasury Secretary Scott Bessent told Bloomberg that major savings could be made and DOGE was one of the most important government audits he'd seen.

Key Takeaways Treasury Secretary Scott Bessent said President Donald Trump is looking for longer-term interest rates to fall. Bessent said in an interview Thursday that Trump's policies should influence those longer-term borrowing costs to fall.

The Trump administration is more focused on keeping Treasury yields low rather than on what the Fed does, Treasury Secretary Scott Bessent said. Bessent indicated that Trump will not be hectoring the Fed to cut,

Treasury Secretary Scott Bessent, shown at a confirmation hearing, said President Donald Trump is "not calling for the Fed to lower interest rates." AFP President Donald Trump is focused on 10-year Treasury yields to bring down borrowing costs rather than the Federal Reserve actions on short-term interest rates,

Treasury Secretary Scott Bessent said Donald Trump is not asking the Federal Reserve to lower its short-term interest rates, but what he and the president do want is to bring down longer-term borrowing costs via 10-year Treasury yields.