Scott Bessent Reportedly Could Dip Into Rainy Day Fund In Major Escalation Over Gov’t Buybacks

August 24, 2026 11:41 AM ET Treasury Secretary Scott Bessent could tap a nearly $1 trillion cash reserve to fund Treasury bond buybacks, giving the Trump administration more firepower to push down long-term borrowing costs as investors increasingly question the U.S.’s fiscal sustainability, CNBC reported Monday.The Treasury could use its General Account (TGA), essentially the federal government’s checking account at the Federal Reserve, to help finance its expanded bond-buyback program, according to two senior Treasury officials cited by CNBC. The account has grown to roughly $950 billion under Bessent, giving the Treasury a potentially significant pool of cash to support its efforts to push down long-term borrowing costs. The Treasury Department did not immediately respond to the Daily Ca