‘If the Bloomberg Terminal bros are unhappy with what I’m doing, that’s too bad’: Bessent says he’ll continue ‘ignoring the noise’

Former Treasury Secretary Scott Bessent has faced criticism from former Wall Street peers regarding his handling of economic policies, including tariffs and interventions to support the yen and reduce the yield on U.S. bonds. Despite the disapproval, Bessent remains unfazed, stating that if some Wall Street professionals are unhappy, "that's too bad."

He defended his Treasury buyback scheme, aimed at artificially keeping yields low, arguing that the U.S. bond market is in good shape. However, the scheme's short-term success has been negated by rising inflation expectations, which have pushed yields higher. Bessent suggested that bond investors are not demanding a premium for longer-term U.S. debt, stating, "That is telling you that investors are not demanding a premium for longer-term U.S. debt, so I'm not sure where the beef is."

He also dismissed the Japanese yen intervention as "a bunch of noise," saying, "In my career, I've made money ignoring the noise."