Did Bessent Put the Fed in a Bind?

NYT Business Thursday 20 August 2026, 12:09 UTC By Andrew Ross Sorkin, Bernhard Warner, Sarah Kessler, Michael J. de la Merced, Niko Gallogly, Brian O’Keefe, Sri Muppidi and Anita Raghavan 1 min read

Key Points

Treasury Secretary Scott Bessent surprised Wall Street in announcing a new intervention in the bond market. Did he take the Fed by surprise, too?

Fed (ORG) Bind (ORG) Treasury (ORG) Scott Bessent (PERSON)

Originally published by NYT Business Read original →

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Did Bessent Put the Fed in a Bind?

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