The federal government plans to borrow $1.3 trillion over the next six months, according to the Treasury Department’s latest Marketable Borrowing Estimates published on July 29.
In the July-September quarter of fiscal year 2024, the Treasury expects to borrow $740 billion in privately held net marketable debt. This is down $106 billion from the previous estimate, made in April 2024. The drop takes into account mainly the Federal Reserve slowing its redemptions of Treasury securities and a higher beginning-of-quarter cash balance.
In May, the monetary authorities announced plans to slow the pace of the central bank’s balance sheet drawdown to prevent volatility in the financial markets. Beginning June 1, the Fed reduced the limit on Treasury securities that are allowed to mature and not be replaced to $25 billion.
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US Treasury Plans to Borrow $1.3 Trillion Over Next 6 Months
- by: Andrew Moran
- 07.30.24
- Source:
The Epoch Times
- 07/30/2024
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