U.S. Breaks Record, Borrows $488 Billion in the First Quarter
(Worthy News) – U.S. Treasury Secretary Steven Mnuchin said he’s unconcerned about the bond market’s ability to absorb rising government debt after his department said it borrowed a record amount for the first quarter.
“It’s a very large, robust market — it’s the most liquid market in the world, and there is a lot of supply,” he said in a Bloomberg TV interview on Monday. “But I think the market can easily handle it.”
Earlier on Monday the Treasury said net borrowing totaled $488 billion from January through March, a record for that period and about $47 billion more than it had previously estimated, according to a statement released in Washington. The end-of-March cash balance was $290 billion, compared with an initial estimate of $210 billion. [ Source: Bloomberg (Read More…) ]
💡 Did you know? One of the best ways you can support Worthy News is by simply leaving a comment and sharing this article.
📢 Social media algorithms push content further when there’s more engagement — so every 👍 like, 💬 comment, and 🔄 share helps more people discover the truth. 🙌