Scott Bessent Counters Elizabeth Warren Over Rising 10‑Year Treasury Yields
FOX Business correspondent Lauren Simonetti reports on Treasury Secretary Scott Bessent’s remarks regarding Iran’s economy on ‘Varney & Co.’
FOX Business has exclusives obtained Treasury Secretary Scott Bessent’s response to Senator Elizabeth Warren’s latest letter concerning the 10‑year Treasury yield increase.
The senator sent more than 100 letters to the Treasury Department seeking information during the past 21 months.
Bessent’s Friday letter—at times tongue‑in‑cheek—accused Warren of possessing limited familiarity with financial markets.
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A split graphic depicting Secretary Bessent and Senator Elizabeth Warren, D‑Mass.(Getty Images / Getty Images)
“Rather than consider my suggestion to study introductory economics, you have continued your campaign of letters and become mere tabloids fodder at the Treasury,” he responded in his reply.
Senator Warren issued a letter on Oct. 7 requesting additional clarification on how the Trump administration attempts to lower borrowing costs for everyday Americans.
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—the political figure cited his own words.
On the approaching deadline, Bessent rebuffed that characterisation, observing that Warren presented herself as concerned while praising the President’s overspending when the federal funds rate leapt to its highest level in decades ahead of a 40‑year inflation peak.
He maintained that she shifted fault onto the Federal Reserve rather than own “irresponsible fiscal policies.”
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Bessent dismissed the tagline, noting that treating the situation seriously felt insincere given the dramatic rate climb and double‑digit inflation under her leadership.
He pointed out that framing the issue externally evaded personal accountability for soaring deficits.
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“While you supported the $5 trillion tax increase burdening every American household, the Working Families Tax Cuts still generate benefits for families and workers nationwide,” he wrote.
Warren contended that the One Big Beautiful Bill would add roughly $4.7 trillion to the national debt over a decade while primarily favouring the ultra‑wealthy and large corporations before cutting health care and food assistance for households. She also reminded the public that U.S. involvement in the Iran conflict has drained an estimated $43.6 billion in taxpayer money.
A split diagram depicts Secretary Bessent and Senator Warren, D‑Mass.
“To ignore my recommendation of introductory economics, you persist with a relentless stream of letters and appear constantly in sensationalist media,” Bessent said.
Former Harvard law professor Warren earned her doctorate, whereas Bessent taught economic history at Yale University.
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His closing remark was a playful nod to vocational courses, comparing the material to a “Foreign Exchange for Dummies” tutor and hinting at a “Fixed Income for Dummies” supplement should a learner pass a basic assessment.
Bessent concluded his letter by signing with a handwritten note wishing Senator Warren Happy Indigenous Peoples’ Day.
