Bessent Wants Recalibration of US Treasury Borrowing Committee

Treasury Secretary Scott Bessent wants to make changes to the influential group of dealers and investors that for decades has provided US debt managers with guidance on how best to fund the US deficit.

Bessent made clear, during an interview with Bloomberg’s Saleha Mohsin Thursday, that he doesn’t want to disband the Treasury Borrowing Advisory Committee, or TBAC, but plans under his watch to make adjustments to the panel and its interaction with US debt managers.

“They are a very elite group,” Bessent said. But “I think that maybe over time we need to think about the style of engagement. ...