All this while, it has be traditionally taught that short rest times are for bodybuilders and long rest times are for powerlifters. However, they both can be used hand in hand for share benefits
Short rest times benefits
When you rest for a shorter amount of time, you likely can do lesser reps and lift lighter weights. Your muscle will fatigue faster but also have to work harder to produce force against the weight which will give the muscle a greater pump.
Longer rest times benefits
Longer rest time give you more time to rest and allows your ATP (adenosine tri-phosphate) to build back up and your muscle glycogen to regenerate. Both of those are energy systems that your muscle use to produce force. A longer rest time allows them to fully recharge so that their full capabilities can be used to lift more weight for more reps and sets.
Both of them should be used based on your current goal. Be it muscle growth or strength gain. You will definetly build muscle with both these rest times, but at different rates.
For more on this topic, read this article by Chris Beardsley who is a brilliant author in this field: https://medium.com/@SandCResearch/do-short-rest-periods-help-or-hinder-muscle-growth-7859e0c4adfd