In response to a question from Representative Andy Barr, who asked whether the Federal Reserve or Treasury intended "to lengthen the maturity of government debt before interest rates rise," Yellen said: "Treasury has been looking at this question and has no current plans to do that."
WASHINGTON: U.S. Treasury Secretary Janet Yellen (pic) said at a hearing on Tuesday that there are no current plans to lengthen the maturity of Treasury debt issued.
The average maturity of the Treasury's public debt portfolio dropped significantly last year as the Trump administration relied extensively on short-term Treasury bill issuance to finance emergency measures to support the economy. The weighted average maturity (WAM) dropped from around 70 months just before the pandemic to less that 65 months - or just over five years - at the end of 2020 according to a recent Treasury presentation https://home.treasury.gov/system/files/221/CombinedChargesforArchivesQ42020.pdf.
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