Search results for Stanley Druckenmiller
Finance
U.S. Treasury to buy back up to $6 billion in Treasuries as yields jump on $40 trillion debt
The U.S. Treasury will buy back up to $6 billion of outstanding nominal Treasuries with 10 to 20 years remaining maturity to boost liquidity in the long-term bond market. The amount is triple the usual per-operation cap, but Treasury yields continued to rise after the announcement. Investors pointed to federal debt above $40 trillion, increased supply and inflation worries, while some criticised the move as risking expectations of larger intervention.
Crypto
BlackRock says bitcoin, gold demand to rise as U.S. debt concerns grow
BlackRock has assessed that growing concerns about the United States’ fiscal deficit and debt burden are supporting demand for bitcoin. BlackRock digital assets head Robbie Mitchnick said in a CNBC interview that U.S. fiscal conditions are driving investment demand for alternative stores of value such as bitcoin and gold. He also commented on the CLARITY market structure bill and said its importance to bitcoin is lower than to the broader industry.
World
Kevin Warsh Fed governor nomination clears U.S. Senate, setting stage for Powell succession
The U.S. Senate approved Kevin Warsh\'s nomination to the Federal Reserve Board of Governors by 51 votes to 45. The Senate is expected to vote separately this week on his nomination as Fed chair. Warsh would serve as a governor through 2040. If confirmed as chair, the process would set in motion a transition from current chair Jerome Powell, whose four-year term ends on Friday.
