US bond market: Dispute over US bond buybacks: Bessent rejects criticism from his former mentor
US Finance Minister Scott Bessent defends the expansion of the buyback program for US government bonds and rejects criticism from investor Stanley Druckenmiller.
US Treasury Secretary Scott Bessent responded to criticism over the announced US bond buyback program. He discussed the issue with his former mentor, billionaire investor Stanley Druckenmiller, who had sharply criticized the plan in a Wall Street Journal article. Druckenmiller had argued that policymakers should let the bond market work and not intervene, after the Treasury announced a surprise expansion of its bond buyback program.
Druckenmiller had previously praised Bessent and Fed Chair Kevin Warsh, who also worked at Duquesne Capital, as a highly competent duo.
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