Analysis: Higher Treasury yields deliver a reality check on a hot, inflation-prone economy

The jump in Treasury yields this week is delivering a reality check about a strong economy, stubborn inflation, and the growing cost of the national debt . That will put the squeeze on the debt-heavy Trump administration as it tries to find a path forward for the economy. It also highlights the tension between the nation's top two economic policymakers. Federal Reserve Chairman Kevin Warsh wants to hear what markets are saying. Treasury Secretary Scott Bessent wants to use his tools to change the message when he believes it's wrong.