Former Treasury Secretary Calls for Scrapping 20-Year Bond Former Treasury Secretary Steven Mnuchin has called for the discontinuation of the 20-year Treasury bond, which he reintroduced in 2020, citing its higher yields and additional costs to taxpayers. The bond’s reintroduction has resulted in approximately $2 billion in extra annual interest expenses, totaling around $40 billion over its lifespan. Despite the Biden administration’s preference for maintaining the bond to ensure stability, Mnuchin argues that the bond has not met expectations and is financially burdensome. The debate over the bond highlights the complexities of managing the U.S. government’s growing deficit. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts Russian Crude Exports Hit Seven-Month Low Amid OPEC+ Compliance READ MORE S&P 500 Nears Worst Month in Over a Year as Rising Yields Signal Inflation Concerns READ MORE Gold Prices Dip as Middle East Conflict Cools, Market Eyes Upcoming U.S. Economic Indicators READ MORE Anticipation Builds for Potential Fed Rate Cuts in 2024 READ MORE Soft Landing Scenario May Limit Scope of Fed's Interest Rate Reductions READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment