The Trump administration doubled its liquidity-support buybacks for long-dated Treasury bonds from $2 billion to $4 billion per operation, an aggressive expansion that effectively neutralized Fed Chair Kevin Warsh's anti-inflationary efforts. The 30-year yield fell to 5.19% on announcement but climbed as high as 5.27% within a day as investors interpreted the move as Treasury dominance over monetary policy. Economist Peter Schiff declared on X that inflation-sensitive markets are surging because the administration undermined any Fed posturing, urging investors to 'Commodities now, CPI later.' Macro investor Raoul Pal labeled the intervention 'The Bessent Put,' noting the enormous signal that the fiscal authority—not the Fed—would defend the long end of the market. Yields ended the session largely unchanged per some observers, but longer-term borrowing costs continue climbing due to AI-related spending and record deficits. On Thursday, the 30-year Treasury yield stood at 5.25%, the iShares 20+ Year Treasury Bond ETF (TLT) closed 0.92% lower at $82.34 and fell 6.28% year-to-date, while the S&P 500 rose 11.41% YTD, the Nasdaq Composite gained 12.19% and the Dow Jones advanced 9.05%.