The U.S. Treasury has conducted a buyback of $4 billion of its own debt, marking one of the largest Treasury buybacks in history. This move is seen as a form of quantitative easing (QE) executed without the Federal Reserve's involvement, effectively introducing a new mechanism for injecting liquidity into the financial system. The buyback reflects the Treasury's efforts to manage the country's debt amid record-high interest expenses. Over the past 12 months, the U.S. government paid approximately $1.2 trillion in interest on public debt, averaging about $3.3 billion per day, the highest amount ever recorded. Interest payments have become the second-largest government expenditure, surpassed only by Social Security. Projections indicate that if interest rates remain steady, annual interest expenses could reach $1.4 trillion in 2026, underscoring the Treasury's need to control borrowing costs. Additional reports indicate a separate $2 billion debt buyback by the Treasury, reinforcing the ongoing strategy to manage debt servicing costs without relying on traditional Fed-led QE.