U.S. Treasury Secretary Bessent said the decision to expand the U.S. Treasury buyback program last month was aimed at calming what he described as overheated sentiment in the bond market and helping prices move back toward balance. He also rejected the idea that Treasury repurchases should be viewed as equivalent to Federal Reserve quantitative easing. Instead, Bessent said the measure was closer to the Fed’s past Operation Twist-style approach. The remarks frame the buyback expansion as a market-stabilizing step rather than a form of monetary stimulus, according to the information provided by ChainCatcher.
U.S. Treasury Secretary Bessent said the expansion of the U.S. Treasury buyback program last month was intended to calm frenzied conditions in the bond market and help prices return to balance.
He rejected the view that Treasury buybacks are equivalent to Federal Reserve quantitative easing, saying the move was similar to the Fed’s past Operation Twist.
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