According to CoinMeta, U.S. Treasury Secretary Scott Bessent took action on Wednesday to lower the yields on long-term government bonds, a move that could complicate the job of Federal Reserve Chairman Kevin Warsh. The yields on U.S. government bonds fell after the Treasury Department announced that it would "at least double" its purchases of 10-year, 20-year, and 30-year bonds, with the operation expected to begin on September 9 and continue until November 4. This move comes at a time when the yield on 30-year bonds reached its highest level in 19 years earlier this week, with investors expressing concerns about higher fiscal deficits, heavy reliance on artificial intelligence lending, and rising inflation, all of which have pushed up global borrowing costs. Warsh mentioned several times during a press conference on July 29 the significant increase in bond yields, suggesting that the Federal Reserve welcomes higher yields as a way to raise borrowing costs and tighten monetary policy through the market, without having to do so by raising short-term interest rates.