JOURNAL ARTICLE

Steven Mnuchin Says It's Time to Kill the New Treasury Bond He Created.

  • Published In: Bloomberg.com, 2024. P. N.PAG 1 of 3

  • Database: Business Source Ultimate 2 of 3

  • Authored By: Xie, Ye; McCormick, Liz Capo; Mohsin, Saleha 3 of 3

Abstract

The 20-year Treasury bond in the US is detached from the rest of the bond market, with yields that are significantly higher than surrounding bonds. This has resulted in an additional $2 billion in interest expenses for the government each year since the bond was reintroduced four years ago. While some experts hesitate to eliminate the bond, Steven Mnuchin, the former Treasury Secretary, believes it should be discontinued due to its cost to taxpayers. The Biden administration, however, plans to continue issuing the 20-year bond at a reduced size to maintain stability in the government's debt sale program. [Extracted from the article]

Additional Information

  • Source:Bloomberg.com. 2024/08, pN.PAG
  • Document Type:Article
  • Subject Area:Biography
  • Publication Date:2024
  • Accession Number:178880376
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