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Bessent's Treasury intervention in bond markets undercuts Fed chief Warsh
Treasury Secretary Scott Bessent intervened in Treasury markets this week to lower the cost of government debt, in a move experts say undercuts the credibility of Federal Reserve Chairman Kevin Warsh to set interest-rate policy. The intervention is seen as an unprecedented step by the executive branch into the domain of the central bank. Analysts warn it could blur the line between fiscal and monetary policy.
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