Kenneth N. Kuttner

4 weeks ago | econofact.org | Kenneth N. Kuttner |Michael Klein |Melissa S. Kearney

· Williams College Few financial indicators are as closely watched as the interest rate on 10-year Treasury securities. So much so, in fact, that Treasury Secretary Bessent stated in a February 2025 interview that “The president wants lower rates. He and I are focused on the 10-year Treasury and what is the yield of that.” What is the 10-year Treasury yield? What role does it play in the economy? What determines it? And what (if anything) can the Treasury do to affect it?

Sep 20, 2023 | econofact.org | Kenneth N. Kuttner |Galina Hale |Michael Klein |Daniel Bergstresser

· Williams College Consumer prices rose 3.7% from August 2022 to August 2023. While inflation still exceeds pre-pandemic levels and the Federal Reserve’s two percent target, it has fallen dramatically from its June 2022 peak of 8.9 percent on a year-over-year basis, the steepest drop on record that has not been associated with a recession. The rapid deceleration contradicts the predictions of those who believed that a rise in unemployment would be necessary to reduce inflation.