Sen. Elizabeth Warren (D-Mass.) slammed Treasury Secretary Scott Bessent for downplaying the risks of waning global demand for U.S. Treasuries.
It’s A ‘Huge Deal’
On Wednesday, in a post on X, Warren criticized Bessent’s comments during the World Economic Forum at Davos, when he said that he was “not concerned at all” about investors selling American Treasuries.
“It’s a huge deal,” Warren said, warning that because Treasuries are seen as the benchmark for the financial system, weaker demand could translate into higher interest rates for consumers, including “on car loans and mortgages.”
“Why is he spouting nonsense?” she asked, while accusing Bessent of making economically irrational claims driven by political loyalty to President Donald Trump, whom she referred to as “a wannabe dictator.”
Bessent was asked about a Danish pension fund’s recent decision to dump all of its U.S. Treasury holdings, to which he responded, saying, “That is less than $100 million. They’ve been selling …Full story available on Benzinga.com
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