Scott Bessent Faces Rising Debt Refinancing Costs Amid High Interest Rates
Treasury Secretary Scott Bessent is grappling with rising refinancing costs as federal debt, much of which was issued at low interest rates below 2%, must now be rolled over in a market where yields have surged to multi-decade highs. The U.S. national debt stands at $39.065 trillion and is projected to exceed $50 trillion by 2030.
Topics: economic policy Federal Reserve inflation interest rates Treasury debt