The Treasury's Big Chance To Nudge Long Rates Down

Even a little help is welcome in the effort to lower long-term interest rates. That's why a number of economists, including some of President-elect Clinton's advisers, have argued that the Treasury should reduce its issuance of long-term debt in favor of shorter-term securities. If successful, such a strategy could not only cut the government's borrowing costs but also bolster long-term capital investment.

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