Democratic Senator Elizabeth Warren pressed U.S. Treasury Secretary Scott
Bessent over what she called the Treasury's "unprecedented and chaotic"
intervention in the U.S. Treasury market, asking how the department plans to
fund Treasury repo operations by lowering its cash balance, what steps it will
take to push down long-term U.S. Treasury yields, and whether the Treasury has
assessed the impact of rising long-term yields on consumer borrowing costs,
including auto loans and mortgage rates.
