Druckenmiller Calls Treasury Buybacks a 'Mistake,' Urges Deficit Cuts Over Yield Suppression

Stanley Druckenmiller on August 25, 2026 called the Treasury's doubled $4 billion long-end bond buyback program a "mistake" eroding market credibility. He warned government efforts to prop up asset prices "always lose" and urged Treasury Secretary Scott Bessent—his former protégé—to cut the budget deficit instead of suppressing yields, saying the U.S. is missing a window for debt reform.