The U.S. Treasury Department will buy back $6 billion in long-term debt to bring down rising interest rates.

But the market did not appreciate it: the yield on 10-year bonds did not fall, but rose to 4.85%. Investors expected more determination, but they got a "Band-Aid for a gunshot wound." While Washington is trying to put out the fire of $40 trillion in debt, drivers are paying for gasoline and businesses are paying for loans. An ingenious plan.

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