Trump Says Solving $40 Trillion U.S. Debt Problem Relies on Growth, Denies Instructing Bessent to Intervene in Bond Market

TechFlow reports that on August 22, U.S. President Trump addressed the U.S. national debt surpassing $40 trillion, stating that the issue "has existed for 35 years" and that the path to resolving it is "through growth." He noted that the U.S. is currently experiencing "very strong growth" and will "easily resolve" the problem. When asked if he had instructed Treasury Secretary Bessent to intervene in the bond market, Trump denied it, saying "not at all."

Trump stated that Bessent is a "highly capable individual," added that Bessent himself wanted to take relevant actions, and described him as having "excellent instincts for bonds and interest rates." When asked whether he discussed further intervention measures with Bessent following the rebound in U.S. Treasury yields, Trump replied: "Our ultimate intervention tool is our military; we act when needed." (Jin10)