El-Erian warns U.S. Treasury's bond buyback is a temporary fix

In the U.S., economist Mohamed El-Erian criticized the Treasury's recent decision to double bond buybacks, labeling it a short-term fix that fails to address the root causes of rising long-term interest rates and increasing national debt. The Treasury's announcement aimed to alleviate market tensions ahead of the midterm elections, but El-Erian warned that such measures are merely temporary and do not resolve the underlying financial issues.