diff --git a/Cargo.lock b/Cargo.lock
index 11f64241c1..f5506c4b10 100644
--- a/Cargo.lock
+++ b/Cargo.lock
@@ -1957,9 +1957,9 @@ dependencies = [
 
 [[package]]
 name = "indicatif"
-version = "0.15.0"
+version = "0.16.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7baab56125e25686df467fe470785512329883aab42696d661247aca2a2896e4"
+checksum = "2d207dc617c7a380ab07ff572a6e52fa202a2a8f355860ac9c38e23f8196be1b"
 dependencies = [
  "console 0.14.1",
  "lazy_static",
@@ -2637,9 +2637,9 @@ dependencies = [
 
 [[package]]
 name = "number_prefix"
-version = "0.3.0"
+version = "0.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "17b02fc0ff9a9e4b35b3342880f48e896ebf69f2967921fe8646bf5b7125956a"
+checksum = "830b246a0e5f20af87141b25c173cd1b609bd7779a4617d6ec582abaf90870f3"
 
 [[package]]
 name = "object"
diff --git a/cli-output/Cargo.toml b/cli-output/Cargo.toml
index c27c8d466a..d1523d2ae9 100644
--- a/cli-output/Cargo.toml
+++ b/cli-output/Cargo.toml
@@ -15,7 +15,7 @@ chrono = { version = "0.4.11", features = ["serde"] }
 console = "0.14.1"
 humantime = "2.0.1"
 Inflector = "0.11.4"
-indicatif = "0.15.0"
+indicatif = "0.16.2"
 serde = "1.0.126"
 serde_derive = "1.0.103"
 serde_json = "1.0.56"
diff --git a/cli/Cargo.toml b/cli/Cargo.toml
index 047ca61945..65e360c731 100644
--- a/cli/Cargo.toml
+++ b/cli/Cargo.toml
@@ -20,7 +20,7 @@ console = "0.14.1"
 dirs-next = "2.0.0"
 log = "0.4.11"
 Inflector = "0.11.4"
-indicatif = "0.15.0"
+indicatif = "0.16.2"
 humantime = "2.0.1"
 num-traits = "0.2"
 pretty-hex = "0.2.1"
diff --git a/cli/src/cluster_query.rs b/cli/src/cluster_query.rs
index 9c275983c9..ff5d0cc0f7 100644
--- a/cli/src/cluster_query.rs
+++ b/cli/src/cluster_query.rs
@@ -737,12 +737,10 @@ pub fn process_catchup(
                     if let Some(rpc_addr) = contact_info.rpc {
                         break rpc_addr;
                     }
-                    progress_bar.set_message(&format!("RPC service not found for {}", node_pubkey));
+                    progress_bar.set_message(format!("RPC service not found for {}", node_pubkey));
                 } else {
-                    progress_bar.set_message(&format!(
-                        "Contact information not found for {}",
-                        node_pubkey
-                    ));
+                    progress_bar
+                        .set_message(format!("Contact information not found for {}", node_pubkey));
                 }
                 sleep(Duration::from_secs(sleep_interval as u64));
             };
@@ -758,7 +756,7 @@ pub fn process_catchup(
             Ok(reported_node_pubkey) => break reported_node_pubkey,
             Err(err) => {
                 if let ClientErrorKind::Reqwest(err) = err.kind() {
-                    progress_bar.set_message(&format!("Connection failed: {}", err));
+                    progress_bar.set_message(format!("Connection failed: {}", err));
                     sleep(Duration::from_secs(sleep_interval as u64));
                     continue;
                 }
@@ -858,7 +856,7 @@ pub fn process_catchup(
             }
         };
 
-        progress_bar.set_message(&format!(
+        progress_bar.set_message(format!(
             "{} slot(s) {} (us:{} them:{}){}",
             slot_distance.abs(),
             if slot_distance >= 0 {
@@ -1134,7 +1132,7 @@ pub fn process_show_block_production(
     };
 
     let progress_bar = new_spinner_progress_bar();
-    progress_bar.set_message(&format!(
+    progress_bar.set_message(format!(
         "Fetching confirmed blocks between slots {} and {}...",
         start_slot, end_slot
     ));
@@ -1197,7 +1195,7 @@ pub fn process_show_block_production(
     let mut leader_slot_count = HashMap::new();
     let mut leader_skipped_slots = HashMap::new();
 
-    progress_bar.set_message(&format!("Fetching leader schedule for epoch {}...", epoch));
+    progress_bar.set_message(format!("Fetching leader schedule for epoch {}...", epoch));
     let leader_schedule = rpc_client
         .get_leader_schedule_with_commitment(Some(start_slot), CommitmentConfig::finalized())?;
     if leader_schedule.is_none() {
@@ -1216,7 +1214,7 @@ pub fn process_show_block_production(
         }
     }
 
-    progress_bar.set_message(&format!(
+    progress_bar.set_message(format!(
         "Processing {} slots containing {} blocks and {} empty slots...",
         total_slots, total_blocks_produced, total_slots_skipped
     ));
@@ -1610,9 +1608,8 @@ pub fn process_live_slots(config: &CliConfig) -> ProcessResult {
                         "{:?} | root slot advancing at {:.2} slots/second",
                         new_info, slots_per_second
                     )
-                }
-                .to_owned();
-                slot_progress.set_message(&message);
+                };
+                slot_progress.set_message(message.clone());
 
                 if let Some(previous) = current {
                     let slot_delta: i64 = new_info.slot as i64 - previous.slot as i64;
diff --git a/cli/src/program.rs b/cli/src/program.rs
index b10a80c1d1..baee084e17 100644
--- a/cli/src/program.rs
+++ b/cli/src/program.rs
@@ -2012,7 +2012,7 @@ fn send_and_confirm_transactions_with_spinner<T: Signers>(
                     .ok();
             }
             pending_transactions.insert(transaction.signatures[0], transaction);
-            progress_bar.set_message(&format!(
+            progress_bar.set_message(format!(
                 "[{}/{}] Transactions sent",
                 pending_transactions.len(),
                 num_transactions
@@ -2050,7 +2050,7 @@ fn send_and_confirm_transactions_with_spinner<T: Signers>(
                 }
 
                 slot = rpc_client.get_slot()?;
-                progress_bar.set_message(&format!(
+                progress_bar.set_message(format!(
                     "[{}/{}] Transactions confirmed. Retrying in {} slots",
                     num_transactions - pending_transactions.len(),
                     num_transactions,
diff --git a/client/Cargo.toml b/client/Cargo.toml
index fa0a854be2..bdeda9be24 100644
--- a/client/Cargo.toml
+++ b/client/Cargo.toml
@@ -14,7 +14,7 @@ base64 = "0.13.0"
 bincode = "1.3.1"
 bs58 = "0.4.0"
 clap = "2.33.0"
-indicatif = "0.15.0"
+indicatif = "0.16.2"
 jsonrpc-core = "17.0.0"
 log = "0.4.11"
 net2 = "0.2.37"
diff --git a/client/src/rpc_client.rs b/client/src/rpc_client.rs
index c54ef4ad94..0b3f11608d 100644
--- a/client/src/rpc_client.rs
+++ b/client/src/rpc_client.rs
@@ -1846,7 +1846,7 @@ impl RpcClient {
 
         let progress_bar = new_spinner_progress_bar();
 
-        progress_bar.set_message(&format!(
+        progress_bar.set_message(format!(
             "[{}/{}] Finalizing transaction {}",
             confirmations, desired_confirmations, signature,
         ));
@@ -1899,7 +1899,7 @@ impl RpcClient {
                 return Ok(());
             }
 
-            progress_bar.set_message(&format!(
+            progress_bar.set_message(format!(
                 "[{}/{}] Finalizing transaction {}",
                 min(confirmations + 1, desired_confirmations),
                 desired_confirmations,
diff --git a/download-utils/Cargo.toml b/download-utils/Cargo.toml
index ee3f4baa61..801cef581b 100644
--- a/download-utils/Cargo.toml
+++ b/download-utils/Cargo.toml
@@ -12,7 +12,7 @@ edition = "2018"
 [dependencies]
 bzip2 = "0.3.3"
 console = "0.14.1"
-indicatif = "0.15.0"
+indicatif = "0.16.2"
 log = "0.4.11"
 reqwest = { version = "0.11.2", default-features = false, features = ["blocking", "rustls-tls", "json"] }
 solana-sdk = { path = "../sdk", version = "=1.8.0" }
diff --git a/download-utils/src/lib.rs b/download-utils/src/lib.rs
index da31b0d343..ec870fc9e5 100644
--- a/download-utils/src/lib.rs
+++ b/download-utils/src/lib.rs
@@ -78,7 +78,7 @@ pub fn download_file<'a, 'b>(
 
     let progress_bar = new_spinner_progress_bar();
     if use_progress_bar {
-        progress_bar.set_message(&format!("{}Downloading {}...", TRUCK, url));
+        progress_bar.set_message(format!("{}Downloading {}...", TRUCK, url));
     }
 
     let response = reqwest::blocking::Client::new()
@@ -108,7 +108,7 @@ pub fn download_file<'a, 'b>(
                 )
                 .progress_chars("=> "),
         );
-        progress_bar.set_message(&format!("{}Downloading~ {}", TRUCK, url));
+        progress_bar.set_message(format!("{}Downloading~ {}", TRUCK, url));
     } else {
         info!("Downloading {} bytes from {}", download_size, url);
     }
diff --git a/install/Cargo.toml b/install/Cargo.toml
index 424195c7e6..875c616c7d 100644
--- a/install/Cargo.toml
+++ b/install/Cargo.toml
@@ -18,7 +18,7 @@ clap = { version = "2.33.1" }
 console = "0.14.1"
 ctrlc = { version = "3.1.5", features = ["termination"] }
 dirs-next = "2.0.0"
-indicatif = "0.15.0"
+indicatif = "0.16.2"
 lazy_static = "1.4.0"
 nix = "0.19.0"
 reqwest = { version = "0.11.2", default-features = false, features = ["blocking", "rustls-tls", "json"] }
diff --git a/install/src/command.rs b/install/src/command.rs
index efe7d7bc0e..26d8b6960c 100644
--- a/install/src/command.rs
+++ b/install/src/command.rs
@@ -94,7 +94,7 @@ fn download_to_temp(
     let client = reqwest::blocking::Client::new();
 
     let progress_bar = new_spinner_progress_bar();
-    progress_bar.set_message(&format!("{}Downloading...", TRUCK));
+    progress_bar.set_message(format!("{}Downloading...", TRUCK));
 
     let response = client.get(url.as_str()).send()?;
     let download_size = {
@@ -114,7 +114,7 @@ fn download_to_temp(
             )
             .progress_chars("=> "),
     );
-    progress_bar.set_message(&format!("{}Downloading", TRUCK));
+    progress_bar.set_message(format!("{}Downloading", TRUCK));
 
     struct DownloadProgress<R> {
         progress_bar: ProgressBar,
@@ -158,7 +158,7 @@ fn extract_release_archive(
     use tar::Archive;
 
     let progress_bar = new_spinner_progress_bar();
-    progress_bar.set_message(&format!("{}Extracting...", PACKAGE));
+    progress_bar.set_message(format!("{}Extracting...", PACKAGE));
 
     if extract_dir.exists() {
         let _ = fs::remove_dir_all(&extract_dir);
@@ -694,7 +694,7 @@ pub fn deploy(
     // Confirm the `json_rpc_url` is good and that `from_keypair` is a valid account
     let rpc_client = RpcClient::new(json_rpc_url.to_string());
     let progress_bar = new_spinner_progress_bar();
-    progress_bar.set_message(&format!("{}Checking cluster...", LOOKING_GLASS));
+    progress_bar.set_message(format!("{}Checking cluster...", LOOKING_GLASS));
     let balance = rpc_client
         .get_balance(&from_keypair.pubkey())
         .map_err(|err| {
@@ -743,7 +743,7 @@ pub fn deploy(
     println_name_value("Update target:", &release_target);
 
     let progress_bar = new_spinner_progress_bar();
-    progress_bar.set_message(&format!("{}Deploying update...", PACKAGE));
+    progress_bar.set_message(format!("{}Deploying update...", PACKAGE));
 
     // Construct an update manifest for the release
     let mut update_manifest = SignedUpdateManifest {
@@ -825,7 +825,7 @@ pub fn gc(config_file: &str) -> Result<(), String> {
                     .template("{spinner:.green}{wide_msg} [{bar:40.cyan/blue}] {pos}/{len} ({eta})")
                     .progress_chars("=> "),
             );
-            progress_bar.set_message(&format!("{}Removing old releases", RECYCLING));
+            progress_bar.set_message(format!("{}Removing old releases", RECYCLING));
             for (release, _modified_type) in old_releases {
                 progress_bar.inc(1);
                 let _ = fs::remove_dir_all(&release);
@@ -919,7 +919,7 @@ pub fn init_or_update(config_file: &str, is_init: bool, check_only: bool) -> Res
         match explicit_release {
             ExplicitRelease::Semver(current_release_semver) => {
                 let progress_bar = new_spinner_progress_bar();
-                progress_bar.set_message(&format!("{}Checking for updates...", LOOKING_GLASS));
+                progress_bar.set_message(format!("{}Checking for updates...", LOOKING_GLASS));
 
                 let github_release = check_for_newer_github_release(
                     semver::VersionReq::parse(&format!(
@@ -1041,7 +1041,7 @@ pub fn init_or_update(config_file: &str, is_init: bool, check_only: bool) -> Res
         }
     } else {
         let progress_bar = new_spinner_progress_bar();
-        progress_bar.set_message(&format!("{}Checking for updates...", LOOKING_GLASS));
+        progress_bar.set_message(format!("{}Checking for updates...", LOOKING_GLASS));
         let rpc_client = RpcClient::new(config.json_rpc_url.clone());
         let update_manifest = get_update_manifest(&rpc_client, &config.update_manifest_pubkey)?;
         progress_bar.finish_and_clear();
diff --git a/programs/bpf/Cargo.lock b/programs/bpf/Cargo.lock
index af0f05a366..02bdd2bba7 100644
--- a/programs/bpf/Cargo.lock
+++ b/programs/bpf/Cargo.lock
@@ -1383,9 +1383,9 @@ dependencies = [
 
 [[package]]
 name = "indicatif"
-version = "0.15.0"
+version = "0.16.2"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "7baab56125e25686df467fe470785512329883aab42696d661247aca2a2896e4"
+checksum = "2d207dc617c7a380ab07ff572a6e52fa202a2a8f355860ac9c38e23f8196be1b"
 dependencies = [
  "console 0.14.1",
  "lazy_static",
@@ -1829,9 +1829,9 @@ dependencies = [
 
 [[package]]
 name = "number_prefix"
-version = "0.3.0"
+version = "0.4.0"
 source = "registry+https://github.com/rust-lang/crates.io-index"
-checksum = "17b02fc0ff9a9e4b35b3342880f48e896ebf69f2967921fe8646bf5b7125956a"
+checksum = "830b246a0e5f20af87141b25c173cd1b609bd7779a4617d6ec582abaf90870f3"
 
 [[package]]
 name = "object"
diff --git a/tokens/Cargo.toml b/tokens/Cargo.toml
index 4c67f8ce49..c9792e8ef4 100644
--- a/tokens/Cargo.toml
+++ b/tokens/Cargo.toml
@@ -17,7 +17,7 @@ csv = "1.1.3"
 ctrlc = { version = "3.1.5", features = ["termination"] }
 dirs-next = "2.0.0"
 indexmap = "1.5.1"
-indicatif = "0.15.0"
+indicatif = "0.16.2"
 pickledb = "0.4.1"
 serde = { version = "1.0", features = ["derive"] }
 solana-account-decoder = { path = "../account-decoder", version = "=1.8.0" }
diff --git a/tokens/src/commands.rs b/tokens/src/commands.rs
index 29e83b662a..96a93d6d19 100644
--- a/tokens/src/commands.rs
+++ b/tokens/src/commands.rs
@@ -593,7 +593,7 @@ fn finalize_transactions(
 
     while opt_confirmations.is_some() {
         if let Some(confirmations) = opt_confirmations {
-            progress_bar.set_message(&format!(
+            progress_bar.set_message(format!(
                 "[{}/{}] Finalizing transactions",
                 confirmations, 32,
             ));
diff --git a/validator/Cargo.toml b/validator/Cargo.toml
index 0aee30c8cd..95c13cca40 100644
--- a/validator/Cargo.toml
+++ b/validator/Cargo.toml
@@ -18,7 +18,7 @@ clap = "2.33.1"
 console = "0.14.1"
 core_affinity = "0.5.10"
 fd-lock = "2.0.0"
-indicatif = "0.15.0"
+indicatif = "0.16.2"
 jsonrpc-core = "17.0.0"
 jsonrpc-core-client = { version = "17.0.0", features = ["ipc", "ws"] }
 jsonrpc-derive = "17.0.0"
diff --git a/validator/src/dashboard.rs b/validator/src/dashboard.rs
index d3051afe1a..f3e9066793 100644
--- a/validator/src/dashboard.rs
+++ b/validator/src/dashboard.rs
@@ -143,7 +143,7 @@ impl Dashboard {
                             )
                         };
 
-                        progress_bar.set_message(&format!(
+                        progress_bar.set_message(format!(
                             "{}{}{}| \
                                     Processed Slot: {} | Confirmed Slot: {} | Finalized Slot: {} | \
                                     Snapshot Slot: {} | \
@@ -172,7 +172,7 @@ impl Dashboard {
                     }
                     Err(err) => {
                         progress_bar
-                            .abandon_with_message(&format!("RPC connection failure: {}", err));
+                            .abandon_with_message(format!("RPC connection failure: {}", err));
                         break;
                     }
                 }
@@ -197,7 +197,7 @@ async fn wait_for_validator_startup(
             match admin_rpc_service::connect(&ledger_path).await {
                 Ok(new_admin_client) => admin_client = Some(new_admin_client),
                 Err(err) => {
-                    progress_bar.set_message(&format!("Unable to connect to validator: {}", err));
+                    progress_bar.set_message(format!("Unable to connect to validator: {}", err));
                     thread::sleep(refresh_interval);
                     continue;
                 }
@@ -216,22 +216,21 @@ async fn wait_for_validator_startup(
                     }
                     .await
                     {
-                        Ok((None, _)) => progress_bar.set_message(&"RPC service not available"),
+                        Ok((None, _)) => progress_bar.set_message("RPC service not available"),
                         Ok((Some(rpc_addr), start_time)) => return Some((rpc_addr, start_time)),
                         Err(err) => {
                             progress_bar
-                                .set_message(&format!("Failed to get validator info: {}", err));
+                                .set_message(format!("Failed to get validator info: {}", err));
                         }
                     }
                 } else {
-                    progress_bar
-                        .set_message(&format!("Validator startup: {:?}...", start_progress));
+                    progress_bar.set_message(format!("Validator startup: {:?}...", start_progress));
                 }
             }
             Err(err) => {
                 admin_client = None;
                 progress_bar
-                    .set_message(&format!("Failed to get validator start progress: {}", err));
+                    .set_message(format!("Failed to get validator start progress: {}", err));
             }
         }
         thread::sleep(refresh_interval);
diff --git a/validator/src/lib.rs b/validator/src/lib.rs
index 4ac27d8833..bafe98aeb8 100644
--- a/validator/src/lib.rs
+++ b/validator/src/lib.rs
@@ -5,7 +5,7 @@ use {
     console::style,
     indicatif::{ProgressDrawTarget, ProgressStyle},
     log::*,
-    std::{env, process::exit, thread::JoinHandle},
+    std::{borrow::Cow, env, fmt::Display, process::exit, thread::JoinHandle},
 };
 
 pub mod admin_rpc_service;
@@ -117,7 +117,7 @@ pub struct ProgressBar {
 }
 
 impl ProgressBar {
-    pub fn set_message(&self, msg: &str) {
+    pub fn set_message<T: Into<Cow<'static, str>> + Display>(&self, msg: T) {
         if self.is_term {
             self.progress_bar.set_message(msg);
         } else {
@@ -125,7 +125,7 @@ impl ProgressBar {
         }
     }
 
-    pub fn abandon_with_message(&self, msg: &str) {
+    pub fn abandon_with_message<T: Into<Cow<'static, str>> + Display>(&self, msg: T) {
         if self.is_term {
             self.progress_bar.abandon_with_message(msg);
         } else {
diff --git a/validator/src/main.rs b/validator/src/main.rs
index a1dc8c2c8e..f2a7fc6e47 100644
--- a/validator/src/main.rs
+++ b/validator/src/main.rs
@@ -160,7 +160,7 @@ fn wait_for_restart_window(
             None => true,
             Some(current_epoch) => current_epoch != epoch_info.epoch,
         } {
-            progress_bar.set_message(&format!(
+            progress_bar.set_message(format!(
                 "Fetching leader schedule for epoch {}...",
                 epoch_info.epoch
             ));
@@ -285,7 +285,7 @@ fn wait_for_restart_window(
             }
         };
 
-        progress_bar.set_message(&format!(
+        progress_bar.set_message(format!(
             "{} | Processed Slot: {} | Snapshot Slot: {} | {:.2}% delinquent stake | {}",
             {
                 let elapsed =