Treasury Secretary Bessent defends buyback program, denies QE

U.S. Treasury Secretary Bessent stated that the Treasury's repurchase program for longer-dated U.S. Treasury bonds is not quantitative easing, but rather a measure to cool down a 'fever' in the bond market. The program aims to address liquidity and market functioning issues, not to inject stimulus. This clarification is significant as it attempts to manage market perceptions and avoid misinterpretation of the program as monetary easing.