Janet Yellen’s Short-Term Thinking Could Cost the U.S. Big
Janet Yellen gets low marks from most financial experts for her term as Treasury Secretary. The Treasury Secretary’s primary role is managing U.S. debt issuance, determining the mix of loan terms and debt structures to minimize interest costs. During the pandemic, interest rates were very low—below 1 percent in most instances—and instead of locking in those low rates for 10 or 30 years, she chose to mostly issue debt in short maturities, usually two years and under. When […]