Stephen S. Roach takes US Treasury Secretary Scott Bessent to task for pursuing ineffective currency and bond interventions.
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Economics
Aug 26, 2026
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.
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