Scott Bessent’s Treasury Missteps Threaten Market Confidence

Putting it mildly, Treasury Secretary Scott Bessent has had a disappointing month. First, his dubious use of public funds to support Japan’s yen was called in question. Then he embarked on a futile attempt to manipulate the bond market, which led legendary hedge fund manager Stanley Druckenmiller to publicly upbraid his former mentee for the amateurish gambit. Finally, after promising to unleash “the greatest coordinated economic isolation in the history of the world” on Iran, Bessent’s big reve