, Columnist
Bessent Is Treating Treasury Like a Hedge Fund
Flouting the doctrine of “regular and predictable” issuance comes with long-term risks.
Pick your timing.
Photographer: Victor J. Blue/Bloomberg
Two things can be true at the same time: First, Treasury Secretary Scott Bessent is generally right to avoid terming out the US government’s debt at the high prevailing borrowing costs. Second, he is being hypocritical given that he criticized his predecessor for leaning into short-dated bill issuance.
Here’s Bessent’s exchange on Monday with Bloomberg’s Sonali Basak: