Scott Bessent’s Latest Big Plan Has Wall Street In A Bender

Treasury Secretary Scott Bessent’s plan to expand the government’s purchases of long-term debt is drawing fire from some of Wall Street’s biggest names, including his former boss and mentor, Stanley Druckenmiller. “The long-term Treasury yield is the most important price in the world. It is also the only fiscal disciplinarian the U.S. has left,” Druckenmiller ...