Treasury Secretary Scott Bessent becomes the tip of the spear in the war on Iran and the bond vigilantes as the U.S. readies more financial firepower | Fortune0

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• August 24, 2026

Facing an increasingly aggressive Iran and a slumping bond market, the Trump administration is betting that Treasury Secretary Scott Bessent can use the financial weapons in the government’s arsenal to achieve victory on both fronts. The idea is to kill two birds with one stone: getting Iran to fully reopen the Strait of Hormuz would