Don’t Mess With Markets by Stephen S. Roach
US Treasury Secretary Scott Bessent has justified his intervention in currency and bond markets by arguing that they are not providing a fair signal of economic fundamentals. But they are, and Bessent’s willingness to peddle such nonsense may be the most striking testament yet to the sycophancy that defines the Trump administration.
NEW HAVEN—Intervening in financial markets is a fool’s game. And yet many seem incapable of internalizing that lesson. So it is with US Treasury Secretary Scott Bessent, as he seeks to manipulate currency and bond markets.
