The Great Bond Brawl: A Tale of Two Economists The bond market is often seen as a barometer of an economy's overall health, but in recent weeks, even among those who should know better, there has been no consensus on how to keep the music playing.
At stake is not just the price of money, but also what constitutes "market" intervention.
Federal Reserve Chairman Kevin Warsh advocates for letting markets set rates without interference from Washington, while Treasury Secretary Scott Bessent employs unorthodox tools, including doubling down on Treasury buybacks, to aid market function.