Janet Yellen made the worst mistake in Treasury history when she failed to lock in cheap debt, elite investor Stanley Druckenmiller says

• Janet Yellen made the worst mistake in the US Treasury’s history, Stanley Druckenmiller says.
• The Treasury chief should have issued more long-term government debt at low interest rates, he said.
• Druckenmiller noted that many American households and businesses managed to lock in lower rates.

Janet Yellen made the worst mistake in the history of the Treasury, which has helped pave the way for a debt disaster, Stanley Druckenmiller says.

Yellen, who was appointed Treasury secretary in January 2021, should have issued more long-dated government bonds before the Federal Reserve began hiking interest rates early last year, Druckenmiller said. The billionaire investor and head of Duquesne Family Office made the comments to elite trader Paul Tudor Jones during a fireside chat at a recent Robin Hood Foundation event.