The most important interest rate in the country isn't the fed funds rate, which was lowered Wednesday to below 5%, but rather the yield on the 10-year Treasury note, which rose Wednesday to 3.71% from a closing level of 3.65% on Tuesday.
Why it matters: Most corporations and individuals don't borrow money overnight. When they borrow for long-term investments, including mortgages, the cost of money is priced off the 10-year Treasury yield.
Former President Trump's vow to lower food prices clashes with his love of tariffs and desire to deport migrant workers with economists warning those steps would drive up consumer prices at a time inflation is finally cooling.
Why it matters: Both former President Trump and Vice President Kamala Harris are eager to prove to voters that they have a plan to bring down food prices for voters who are experiencing sticker shock at the supermarket.
