BlockBeats News, August 26th. According to the Financial Times, recent interventions in the bond market by US Treasury Secretary Yellen are at odds with the Federal Reserve's inflation containment goals. Yellen's unexpected push for bond market intervention initially caused yields to fall, but they later rebounded. The market reaction has put more pressure on Fed Chair Powell ahead of his speech at the Jackson Hole meeting.

Powell has consistently emphasized that investors should rely more on economic data and market prices to assess interest rate trends, rather than wait for central bank officials to provide "forward guidance." The market is currently concerned that if Yellen's efforts to suppress yields continue to fail, the Fed may also face pressure to intervene in the market.

Yellen and Powell are both protégés of billionaire Stanley Druckenmiller, and they often meet and have a good relationship. However, the current market impression is that the US Treasury, led by Yellen, and the Federal Reserve are moving in opposite directions.