Druckenmiller: Treasury Buybacks Are a Mistake, Deficit Cuts Needed

Stanley Druckenmiller on August 25, 2026 called the Treasury's doubled $4 billion long-bond buyback program a "mistake" that erodes market credibility. He warned government efforts to suppress yields—borrowing costs—"always lose." He urged Treasury Secretary Scott Bessent, his former protégé, to cut the budget deficit instead, saying the U.S. is missing its window for debt reform.