Is Scott Bessent in Over His Head?
Summary
Mary Harris and guest Catherine Rampell analyze rising bond yields driven by US fiscal deficits, AI corporate borrowing, and questions about Federal Reserve competence. They discuss Treasury Secretary Scott Bessent’s failed bond buyback attempt and the public criticism from his mentor, Stan Druckenmiller. The episode explores how these factors impact consumer borrowing costs and whether the US is losing its status as the world’s safe reserve currency.
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