Trump to "manage mortgage rates" for the Fed? Bessent states: The goal of "Trump QE" is to match the Fed's "balance sheet reduction."
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Faced with persistently high housing costs, the Trump administration has bypassed the Federal Reserve and used executive power to intervene in the mortgage market, attempting to “hedge” the Fed’s balance sheet reduction in order to lower mortgage rates.
On January 9 local time, U.S. Treasury Secretary Bassent clarified