Treasury chief Scott Bessent faces criticism over debt, sanctions and Trump’s policies

Since his confirmation, Treasury Secretary Scott Bessent has grappled with a national debt exceeding $40 trillion and bond-market volatility that pushed long-term yields to near-20-year highs. A recent intervention doubled quarterly buybacks of 10-to-30-year securities to at least $4 billion, a move described by market strategists as a short-lived band-aid. Meanwhile, Bessent’s “Operation Economic Outcast” against Iran remains largely rhetorical, stopping short of imposing secondary sanctions that could involve Chinese state banks and trigger a wider trade conflict.

His public endorsement of Trump’s 50 percent tariffs on $20 billion of Canadian goods further fuels doubts about his independence. Analysts such as Bill Galston and Larry Jacobs argue that Bessent’s actions reflect a pattern of appeasing the president rather than safeguarding the nation’s fiscal credibility.