{"version":"1.0","type":"rich","provider_name":"Acast","provider_url":"https://acast.com","height":250,"width":700,"html":"<iframe src=\"https://embed.acast.com/$/6704f63a835696b02f258dd3/6a96711d3eb416339752d69b?\" frameBorder=\"0\" width=\"700\" height=\"250\"></iframe>","title":"#104 Bessent and Warsh at loggerheads: who controls the curve?","thumbnail_width":200,"thumbnail_height":200,"thumbnail_url":"https://open-images.acast.com/shows/6704f63a835696b02f258dd3/1788244241016-bf08f3a4-be93-4c61-8d4a-78d57bb55fde.jpeg?height=200","description":"<p>US Treasury Secretary Scott Bessent has been buying back long bonds to calm a sell-off at the long end of the yield curve. Fed governor Kevin Warsh, fresh from a hawkish Jackson Hole speech, wants the opposite: a smaller balance sheet and a clear signal from the curve. Ruen Naidu unpacks why the two are at odds, and why an oil price spike could override both.</p>","author_name":"Ninety One"}