Stephen S. Roach

Stephen S. Roach

Stephen S. Roach is a faculty member at Yale University and former chairman of Morgan Stanley Asia

Don’t Mess With Markets

US Treasury Secretary Scott Bessent has justified his intervention in currency and bond markets by arguing that they are not providing a fair signal of economic fundamentals. But they are, and Bessent's willingness to peddle such nonsense may be the most striking testament yet to the sycophancy that defines the Trump administration.

Stephen S. Roach

August 27, 2026 at 6:14 AM IST

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