Qalibaf Warns Bessent: US Economic Situation 'Precarious'

Iranian Parliament Speaker Mohammad Baqer Qalibaf has warned US Treasury Secretary Scott Bessent that Washington's economic situation is precarious due to rapidly declining strategic oil reserves and surging bond yields.

In a post on X, Qalibaf directly addressed Bessent, saying 'Short harder, champ. Like your career depends on it (because it does). Or drain below the danger zone and watch your caverns collapse (along with your career). Or pray to the salt gods of Bryan Mound.'

The comments come amid growing pressure on the US administration over the performance of the Treasury and energy markets.

Bessent has pursued buyback operations in the US Treasury market, particularly involving 10-year bonds, in an effort to bring down long-term yields and reduce borrowing costs ahead of the midterm elections. However, critics have questioned the effectiveness of these measures and warned of growing market risks.