The Treasury Department just pushed down long-term US bond yields. That could make Kevin Warsh's job harder.

The Treasury Department just pushed down long-term US bond yields. That could make Kevin Warsh's job harder. Jennifer Schonberger · Senior Reporter Wed, August 19, 2026 at 1:42 PM EDT 5 min read ^TYX Treasury Secretary Scott Bessent took action Wednesday to lower long-term government bond yields, a move that complicates Federal Reserve Chairman Kevin Warsh's job and may even force him to act more aggressively to raise interest rates. US government bond yields are skidding after the Treasury said it would "at least double" the amount of 10-year, 20-year and 30-year Treasury bonds it buys back. The operation will begin on Sept. 9 and remain effective through Nov. 4. More from Yahoo Scout The move comes after the 30-year Treasury yield hit its highest level in 19 years earlier this week, amid investors' concerns over higher fiscal deficits, heavy AI borrowing, and higher inflation that has pushed up borrowing costs globally. That has implications for the central bank. During his press conference on July 29, Warsh repeatedly pointed to bond yields that had shot materially higher, suggesting that the Fed welcomed the higher yields as a way to raise borrowing costs and tighten policy through markets, rather than the Fed having to raise short-term rates itself. The Fed raises or lowers its short-term interest rate to influence other bond yields, which in turn dictate borrowing costs for consumers and businesses. "Chairman Warsh is in a very uncomfortable position," Wilmington Trust …