I don't support Trump but I see the reasoning him and Bessent have. They want to lower the interest rate so that they can also drop the rate at which they issue debt/treasuries. They seem to think they are too financially constrained but will bankrupt themselves even faster if they hold big treasury auctions at today's rates.

It'll also lead to the general public feeling inflationary impacts. I think the government would cut relief checks to mitigate this and stir public sentiment their way, but it probably wouldn't be enough to maintain current standards of living.