Scott Bessent is buying up Treasury instruments to push interest rates down.
Posted by Bulwark Takes, Checked
- Sources
- 4 support3 context
- Said
- 1 time·
- Confidence
- 60%
Bulwark TakesAug 21, 2026
Sources from August and September 2026 show Treasury announced on August 19 that it would double its buybacks of long-dated bonds, with Bessent and Forbes describing the aim as lowering long-term yields, which supports the claim as of 2026-08-21.
This claim is about the present, so it is judged as of the day it was checked.
What was said
… Um, so he hasn't done it really yet, but the thing that he wants to do would raise long-term rates more. Meanwhile, you have Scott Besant, uh, on the other side, buying up these instruments to try to push rates back down. But continue. So, this is a case it's, I mean, it's attempted market manipulation, where the federal government is doing something not because there is an economic rationale for it, like a macroeconomic policy, but because the president wants interest rates …
Bulwark Takes · · from the transcriptPost →What we found
Supports. Treasury announced on Aug. 19, 2026 that it would double its bond buyback program to at least $4 billion per operation for bonds maturing in 10 to 30 years.[3][4]
Supports. Forbes describes the buyback program as aimed at lowering long-term rates by retiring higher-yielding long-term debt, and CNN reports Bessent had promised to drive down bond yields.[1][2]
Context. The Treasury said the buybacks were officially intended to add liquidity to the market, though they could also help push yields down by adding demand.[5][7]
Context. Yields rose after the buybacks began, and critics said the plan was not effective, so the intended effect was not achieved.[2][6]
Sources
7 sources: 4 tier 2, 3 not rated
- 1Breaking Down Bessent's $4-Billion Bluffforbes.com · tier 2 · cited for: supports
- 2The time Scott Bessent tried to outsmart the bond market - CNNcnn.com · tier 2 · cited for: supports, context
- 3Scott Bessent sends clear signal to bond market investorsfinance.yahoo.com · not rated · cited for: supports
- 4Bessent doubles down on bond fix as mortgage rates near 7.5%thestreet.com · not rated · cited for: supports
- 5The White House and the Market Are Telling Different Storiestheatlantic.com · tier 2 · cited for: context
- 6Bessent Defends Faltering Bond Market Interventionnytimes.com · tier 2 · cited for: context
- 7Scott Bessent dared the $32 trillion bond market with 'I am the house now' statement. It didn’t listen | Fortunefortune.com · not rated · cited for: context
Where this claim was made
Said in 1 published post
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