Billionaire Investor Says Government Bond Buyback Plan Won't Work

Stanley Druckenmiller on August 25, 2026 called the Treasury's expanded $4 billion bond buyback a "mistake" that damages trust in markets. Bond buybacks are when the government repurchases its own debt to push interest rates down. He warned such efforts "always lose" and urged Treasury Secretary Scott Bessent, his former protégé, to cut the deficit instead.