Yellen Rejects Roubini Claim of ‘Manipulation’ in Treasuries
- Roubini echoes view of some Republicans on debt issuance
- Treasury has relied relatively more on short-dated debt
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US Treasury Secretary Janet Yellen firmly rejected an accusation from the economist Nouriel Roubini that her department has manipulated the issuance of Treasury securities in a way that lowers real borrowing costs across the economy.
In an interview with Bloomberg News, Yellen said Roubini’s argument, laid out in a paper published Tuesday, “suggests a strategy that is intended to ease financial conditions, and I can assure you 100% that there is no such strategy. We have never, ever discussed anything of the sort.”