{
  "id": 3210796,
  "title": "US Treasury’s Scott Bessent ‘making mistake’ interfering with bond markets, former mentor warns",
  "url": "https://urgent.news/2026/08/25/us-treasurys-scott-bessent-making-mistake-interfering-with-bond",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-25T06:57:55.000Z",
  "source": {
    "name": "Guardian Business",
    "slug": "guardian-business",
    "url": "https://www.theguardian.com/business/2026/aug/25/us-treasury-scott-bessent-bond-buying-donald-trump-stanley-druckenmiller"
  },
  "original_language": "en",
  "account": "Former US Treasury Secretary Scott Bessent's efforts to calm bond markets and lower borrowing costs have drawn criticism from his former mentor, billionaire investor Stanley Druckenmiller. In an article published in the Wall Street Journal, Druckenmiller argued that Bessent is risking a costly mistake by attempting to suppress US bond yields. Druckenmiller advised Washington to let the market determine prices, rather than expanding bond purchases to push prices up and yields down. He emphasized that the long-term Treasury yield is the most critical price in the world and serves as the primary fiscal discipline for the US. Druckenmiller's warning comes after Bessent doubled the maximum size of Treasury's bond-buyback operations, from $2 billion to $4 billion, which caused short-term declines in long-term bond yields. However, these yields soon rebounded, leading Druckenmiller to term Bessent's move as a \"mistake far larger than $4 billion.\" Bessent may be able to expand his bond-buying efforts using the Treasury's near-$1 trillion General Account. The US national debt has already reached $40 trillion, and the annual budget deficit is projected to soar to $2 trillion this year. Druckenmiller insisted that addressing this primary deficit is the only way to permanently lower long-term yields, arguing that a credible fiscal package would yield far greater benefits than a massive bond-buyback program.",
  "summary": "Trump ally should cut budget deficit rather than try to suppress bond yields, says billionaire Stanley Druckenmiller Scott Bessent’s attempt to calm the bond markets and push down America’s cost of borrowing have attracted a rebuke from the US Treasury secretary’s former mentor. Billionaire investor Stanley Druckenmiller, who worked with Bessent at George Soros’s fund management firm in the…",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "Yahoo Finance",
        "title": "J.P. Morgan just poured cold water on Bessent's bond fix",
        "url": "https://urgent.news/2026/08/23/j-p-morgan-just-poured-cold-water-on-bessents-bond-fix",
        "published": "2026-08-23T18:47:00.000Z"
      },
      {
        "outlet": "Brazil Journal",
        "title": "Former chief tells Bessent: ‘Let the bond market speak’",
        "url": "https://urgent.news/2026/08/25/ex-chefe-diz-a-bessent-let-the-bond-market-speak",
        "published": "2026-08-25T00:07:13.000Z"
      },
      {
        "outlet": "The Business Times - Companies & Markets",
        "title": "Bessent stops short of new bond measures amid report US Treasury may tap cash pile for buybacks",
        "url": "https://urgent.news/2026/08/25/bessent-stops-short-of-new-bond-measures-amid-report-us-treasury-may",
        "published": "2026-08-25T04:26:27.000Z"
      },
      {
        "outlet": "Hedgeweek",
        "title": "Druckenmiller says Bessent’s Treasury bond buying is a mistake",
        "url": "https://urgent.news/2026/08/25/druckenmiller-says-bessents-treasury-bond-buying-is-a-mistake",
        "published": "2026-08-25T08:12:20.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}