Bessent and Warsh clash over TGA deployment and rate policy
Treasury Secretary Scott Bessent said he would deploy the full force of the Treasury General Account if needed while Fed Chair Kevin Warsh called for restraint, with commentary noting Bessent is attempting yield curve control to avoid actual rate hikes. Multiple independent accounts describe the two officials publicly diverging on rate and TGA policy.
Detected & updated continuously · Source: Nebula
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@bitcoinjack
Bessent: I will unleash the full force of the TGA if needed Warsh: we must practice restraint Rates: up Warsh is pushing rates where Bessent is forced to play on the long end Whilst giving out higher yielding bills, because Warsh is calling for restraint
@NFTRHgt
Donald Trump has been (not so) mysteriously quiet about interest rates. Why? IMO it's because Bessent told him 'just relax, see to other matters and let me and my side man handle this'. Voila! Attempted yield curve control, obviating the need for actual rate hikes! https://t.co/1tPftIe1gh
@Tay_Tay86
Lmao yield curve. Bessent sweating through his shirt right now and you know it as he watches yields soar, oil stay up, and equities drive down Oh and food soaring Great job guys. We beat inflation just like we beat medicare! 🗿
@diefy7321
Not a chance. Warsh talks a big talk, but the treasury will be doing all the work behind the scenes.