Stanley Druckenmiller takes aim at former colleague Scott Bessent

Former Treasury Secretary Scott Bessent's policy of boosting liquidity support for bonds has come under fire from billionaire investor Stanley Druckenmiller. In an op-ed, Druckenmiller called Bessent's approach "price management" and criticized it as a "mistake far larger than $4 billion suggests". Druckenmiller argues that markets have correctly rejected this policy, noting the U.S. national debt has doubled over the past nine years.

He suggested returning buybacks to their original purpose and terming out debt honestly. Druckenmiller, who previously worked with Bessent at Quantum Fund and Soros Fund Management, defended his use of AI in writing the piece, stating it's no different than using a calculator for math problems.