BITCOIN RIPS ABOVE $78K AS BESSENT COULD TAP $1 TRILLION TREASURY WAR CHEST FOR BOND BUYBACKS
Treasury Secretary Scott Bessent could tap the government’s nearly $1 trillion Treasury General Account to help fund expanded purchases of long-term US government bonds, according to CNBC.
The TGA currently holds roughly $950 billion, well above the $550–600 billion target maintained under the Biden administration.
Treasury officials said the cash is considered available for the buyback program, potentially giving Bessent significantly more firepower to push down long-term yields without relying on the Fed.
Treasury recently doubled planned long-end buybacks from $2 billion to at least $4 billion per operation beginning September 9, with Bessent signaling purchases could go even higher.
Treasury Secretary Scott Bessent could tap the government’s nearly $1 trillion Treasury General Account to help fund expanded purchases of long-term US government bonds, according to CNBC.
The TGA currently holds roughly $950 billion, well above the $550–600 billion target maintained under the Biden administration.
Treasury officials said the cash is considered available for the buyback program, potentially giving Bessent significantly more firepower to push down long-term yields without relying on the Fed.
Treasury recently doubled planned long-end buybacks from $2 billion to at least $4 billion per operation beginning September 9, with Bessent signaling purchases could go even higher.
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