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The surprising move this week by Treasury Secretary Scott Bessent to intervene in Treasury markets to lower the cost of government debt undercuts the credibility of Federal Reserve Chairman Kevin Warsh to make interest-rate policy, experts said.
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Here's how America's $40 trillion debt can hit your wallet AxiosWhat the US debt hitting $40 trillion means for everyday Americans: Mortgage, auto loans, interest rates Business InsiderCorvallis man arrested after firing shots near Home Depot Corvallis Gazette-TimesU.S. fiscal policy potholes RBC Wealth ManagementScott Bessent Says ‘V
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Asian Stocks Set to Fall as Bonds Resume Decline: Markets Wrap Bloomberg.comTreasury Turns to Interventionist Tactics to Lower Interest Rates The New York TimesLonger-dated Treasury yields rise as Bessent's bond buyback rally fizzles out CNBCMorning Bid: So much for the Bessent bid ReutersAn alarmed bond market get
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The U.S. federal debt hit a record $40 trillion this week. The debt has doubled since 2017, and just paying interest on the accumulated debt now costs the government more than $1 trillion a year.
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