United States Treasury Secretary Besent: Unable to change the balanced price of bonds to drive fiscal consolidation with Walter

On 31 August, United States Treasury Secretary Becent stated that he agreed with Federal Reserve Chairman Walsh on the issue of bonds and stated that since United States President Trump took office, the rate of return on United States debt over a 10-year period had been almost equal. Bésente stressed that he had never indicated an attempt to change the bond market, and that the Government could not change the balanced price of the bonds and would not speculate about what the Fed might do next. He stated that core inflation remained moderate and that the Fed had traditionally not increased interest rates in the event of supply shocks. Becent also disclosed that it had not yet purchased any bonds and was working with the budget manager, Walter, to develop a financial consolidation programme. He indicated that the United States, or because of the bond buy-back plan, had become the top global bond market, and said that hedge fund managers preferred “accelerating the process”. With regard to the investor who had recently criticized the United States Treasury Treasury bond buy-back policy, Stanley Drukken Miller, Besent stated that he had spoken to him after his column article and that “I think that Drukken Miller lost money on the day he published the editorial”. In addition, Becent noted that Fitch had reaffirmed the United States credit rating。