Warren Questions Basant on Treasury's Intervention in U.S. Debt Market
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On October 7, U.S. Democratic Senator Elizabeth Warren questioned Treasury Secretary Scott Basant regarding the Treasury's recent interventions in the U.S. Treasury bond market. Warren demanded that Basant explain how the Treasury is funding bond buybacks by lowering cash balances and what measures will be taken to suppress long-term U.S. Treasury yields. She also inquired whether the Treasury has assessed the impact of rising long-term Treasury yields on consumer financing costs, including auto loans and mortgage rates.
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