President Donald Trump said the U.S. military could represent the "ultimate intervention" to lower interest rates and Treasury yields, prompting economist and longtime gold-market commentator Peter Schiff to question how such a measure would work. Trump made the remark during a Fox News interview while discussing Treasury Secretary Scott Bessent’s efforts to intervene in the bond market, but did not explain the military reference. The administration has expanded planned purchases of longer-dated Treasuries, while the U.S. Treasury said it would increase liquidity-support buyback operations for 10- to 20-year and 20- to 30-year nominal coupon securities to at least $4 billion per operation from $2 billion. Yields were elevated at the time of writing, with the 30-year Treasury at about 5.213%, the 10-year at 4.73% and the two-year at 4.36%. Separately, Federal Reserve Chair Kevin Warsh took a hawkish stance on inflation at the Jackson Hole Symposium, helping lift market pricing for a September rate hike to 54% from 34% before his speech. ING Think described his comments as net hawkish overall, while noting that he did not address the fiscal deficit, Bessent’s buybacks or the U.S. dollar.