Bessent Signals Bigger Treasury Buybacks to Drag Down Long-Term Yields

Treasury Secretary Scott Bessent said the Treasury could expand its buyback program beyond the announced $4 billion per issue to push down long-term yields, a day after the department doubled purchases for this fall. The plan, set to run Sept. 9–Nov. 4, aims to calm markets amid light August trading and heavy corporate debt issuance, though analysts warn that larger buybacks may have limited lasting impact as deficits rise and inflation remains above target. The administration also previewed a push for fiscal consolidation and tariff-driven revenue to address the mounting debt, with the Fed maintaining independence in policy decisions.