💬 Opinion 9h ago · Barry Eichengreen

Scott Bessent’s Risky Short-Termism

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Scott Bessent’s Risky Short-Termism
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The US Treasury secretary's commitment to accelerate buybacks of longer-term debt and issue more short-term debt in their place promises significant budgetary savings. But if borrowing costs rise, what happens in the T-bill market won’t stay in the T-bill market.

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