PANews October 11 news: U.S. Treasury Secretary Bessent sent a letter to Senator Elizabeth Warren in response to her questions regarding Treasury-related policies, in which he pointed out that Warren's understanding of fiscal markets "lacks a foundation," and criticized her previous support for the Biden administration's spending policies, while attributing the economic consequences to the Federal Reserve rather than fiscal policy.
In response to Warren's claim that the United States' recent "intervention measures are unprecedented," Bessent said in the letter that the relevant Treasury buyback program has been implemented since May 2024 and has been welcomed by market participants. The program aims to enhance the liquidity of the U.S. Treasury market, reduce market volatility, improve Treasury convenience yields, and secure better value for taxpayers. The tax policies promoted by the Trump administration are benefiting families and workers, including measures such as tax exemption for overtime income, tax exemption for tip income, additional deductions for seniors, and the child tax credit.