Reported 4 months ago
U.S. Treasury Secretary Janet Yellen testified before a U.S. Senate subcommittee, dismissing accusations by Republican senators that the Treasury is increasing short-term Treasury bill issuance for economic stimulus ahead of the presidential election. Yellen emphasized that the Treasury's debt issuance strategy is based on historical norms and market advice, denying any efforts to time the market. Republican Senator John Kennedy and Bill Hagerty criticized Yellen for issuing debt at higher interest rates, with Kennedy implying it was to artificially boost the economy before the election. Yellen refuted these claims, stating that short-term debt issuance does not create an artificial economic boost and is aligned with market expectations and recommendations from the Treasury Borrowing Advisory Committee.
Source: YAHOO