Bessent Says Long Way From Boosting Longer-Term Debt (Correct)

Treasury Secretary Scott Bessent said that any move to boost the share of longer-term Treasuries in government debt issuance is some ways off, given current hurdles that include elevated inflation and the Federal Reserve’s quantitative tightening program.

“That’s a long way off, and we’re going to see what the market wants,” Bessent said in an interview with Bloomberg Television’s Bloomberg Surveillance on Thursday, when asked about “terming out” sales of US Treasuries sales. “It’s going to be path dependent.”

Before he came into office, Bessent had repeatedly criticized then-Treasury Secretary Janet Yellen for boosting the share of bills, which ...