US senator questions Bessent, demands explanation for Treasury's 'unprecedented intervention' in US bond market.

October 7th, U.S. Democratic Senator Elizabeth Warren raised a series of questions to U.S. Treasury Secretary Scott Bessent regarding the Treasury Department's recent "unprecedented and chaotic" intervention measures in the U.S. Treasury market. Warren demanded that Bessent explain how the U.S. Treasury Department plans to fund Treasury buybacks by reducing cash balances, and what measures will be taken to push down long-term U.S. Treasury yields. She also questioned whether the Treasury Department has assessed the impact of rising long-term U.S. Treasury yields on consumer financing costs, including auto loan and mortgage interest rates.