The Tell: Stanley Druckenmiller slams Janet Yellen for ‘biggest blunder in Treasury history’: Failing to lock in rock-bottom interest rates

by | Oct 30, 2023 | Stock Market

Treasury Secretary Janet Yellen has some explaining to do, according to billionaire hedge-fund titan Stanley Druckenmiller. Yellen missed an important opportunity, Druckenmille says, by not issuing more long-dated Treasury bonds when interest rates were near zero during the aftermath of COVID-19.

“Janet Yellen, I guess because political myopia or whatever, was issuing 2-years at 15 basis points…when she could have issued 10-years at 70 basis points or 30-years at 180 basis points,” the former hedge-fund manager said during a conversation with Paul Tudor Jones at the Robin Hood Investors Conference, a clip of which circulated Monday on X, the social-media platform formerly known as Twitter. “I literally think if you go back to Alexander Hamilton, it is the biggest blunder in the history of the Treasury,” Druckenmiller said.

Article Attribution | Read More at Article Source

Share This