CNN’s Abby Phillip was left baffled after President Donald Trump suggested a military intervention to tame turmoil in the bond market.
On CNN NewsNight, Phillip aired footage of Trump fielding reporters’ questions about Treasury Secretary Scott Bessent’s bond market intervention. Bessent more than doubled the volume of U.S. bonds the department plans to buy back after yields climbed steadily since the start of the Iran war, reporting by Mediaite noted.
One reporter asked whether Trump had directed Bessent to step into the market.
“Not at all, no,” the president said. “He’s a very capable man. He wanted to do it. He’s very good at it. He has a good touch, very good natural touch for the bonds and interest.”
Another reporter asked if he considered “another type of intervention,” which prompted an odd response from Trump.
“We have many types of intervention,” Trump responded. “The ultimate intervention is our military. And if we have to use that, we will.”
The remark stopped Phillip cold as she struggled to make sense of it, according to Mediaite.
“Not sure what that’s about,” she said. “He’s going to sic the military on the bond market. What is he talking about?”
MeidasTouch reporter Adam Mockler admitted he was equally stumped, saying, “Uh, I don’t know, honestly.”
Higher yields raise borrowing costs across the economy and force the government to pay more interest on its debt, Mediaite noted. Even so, Trump has bristled at positive economic data, arguing days earlier that good news undercuts his push for lower rates.
“Every time I hear our country is doing well I say, ‘That’s too bad because they lift up interest rates,’” he said Wednesday. “They should drop interest rates because it means we have a strong country.”
Trump went on to tout the country’s borrowing position. “It’s all based on credit, meaning good credit. And we have the best credit, and we pay off the debt very easily, very quickly,” he said.
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