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10-Year Yields Top 4.7%, Undermining Trump’s Rate-Cut Pledge

8/1/2026

38 5 Full Breakdown

Summary

Story summary

U.S. President Donald Trump sees 10-year Treasury yields rise above 4.7%, defying his rate-cut pledge.
Fed Chair Kevin Warsh said inflation remains hot and offered no clear plan for cuts.
The government has spent $827 billion this fiscal year on debt service, exceeding defense spending.
Georgetown economist Juan Felipe Riaño warned that rising borrowing costs and inflation outpacing wages could hurt Republicans in the midterms.

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Story summary

U.S. President Donald Trump sees 10-year Treasury yields rise above 4.7%, defying his rate-cut pledge.
Fed Chair Kevin Warsh said inflation remains hot and offered no clear plan for cuts.
The government has spent $827 billion this fiscal year on debt service, exceeding defense spending.
Georgetown economist Juan Felipe Riaño warned that rising borrowing costs and inflation outpacing wages could hurt Republicans in the midterms.