The Treasury's attempts to lower borrowing costs are problematic. Secretary Bessent is criticized for using hedge fund tactics to time the bond market with taxpayer money. His decision to increase bond buybacks to $32 billion quarterly is viewed as a desperate, inappropriate manipulation of yields. The author asserts this, like past interventions, will likely fail. Global financial forces, including Japanese inflation and surging corporate borrowing, will sustain high yields. The administration's unaddressed policies exacerbate deficits. Bessent’s market-timing bet is a long-shot, predicted to disappoint voters promised lower borrowing costs.