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The Fed and Treasury Appear at Odds

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“Kevin Warsh is trying to unwind years of explicit Federal Reserve guidance. Treasury Secretary Scott Bessent may have just complicated that experiment,” Axios reports.

“Why it matters: While the Federal Reserve chairman wants to give markets more room to respond to the economy, Treasury’s intervention signals that there are limits to how much market-driven movement Washington is willing to tolerate.”

“The result is a contradictory policy mix: The Fed is trying to do less to guide financial markets, just as Treasury is showing a greater willingness to intervene when market moves become uncomfortable.”

CNBC: Bessent moves to curb Treasury yields, putting new pressure on Warsh’s Fed.

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About Political Wire

Taegan Goddard is the founder of Political Wire, one of the earliest and most influential political web sites. He also runs Political Job Hunt, Electoral Vote Map and the Political Dictionary.

Goddard spent more than a decade as managing director and chief operating officer of a prominent investment firm in New York City. Previously, he was a policy adviser to a U.S. Senator and Governor.

Goddard is also co-author of You Won - Now What? (Scribner, 1998), a political management book hailed by prominent journalists and politicians from both parties. In addition, Goddard's essays on politics and public policy have appeared in dozens of newspapers across the country.

Goddard earned degrees from Vassar College and Harvard University. He lives in New York with his wife and three sons.

Goddard is the owner of Goddard Media LLC.

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