Scott Bessent is ‘playing with fire’ as the Treasury’s debt buyback risks putting the dollar in a devaluation spiral like the yen, economist warns

"Markets are primed for Dollar debasement to resume and — as Japan shows — it can be next to impossible to stabilize a currency once it enters a devaluation spiral.

Source: [Fortune](https://fortune.com/2026/08/21/scott-bessent-treasury-debt-buyback-dollar-debasement-trade-devaluation-spiral-yen/)