Bessent moves to curb Treasury yields, putting new pressure on Warsh's Fed

Treasury Secretary Russell Bessent announced plans to increase purchases of long-term debt securities, actions that helped stabilize bond markets after recent selling pressure. Economists said the move could complicate Federal Reserve policy independence and potentially affect inflation management. Christopher Wharton, a Fed governor nominee, faced questions about the relationship between Treasury debt management and Federal Reserve decision-making during his confirmation process.

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