The Trump administration’s attempts to stabilize financial markets fizzled on Thursday, leading Treasury Secretary Scott Bessent to suggest that a greater intervention may be on the way.
The Trump administration will announce plans in the coming days to potentially increase the $4 billion program to buy back government bonds from investors he first proposed yesterday, Bessent said Thursday.
The Trump administration’s initial plan to tamp down investor return rates didn’t work, with yields rebounding to uncomfortable highs on Thursday morning. The administration indicated it is planning to double down on the buyback program.