Stanley Druckenmiller: Janet Yellen's 'Biggest Blunder' in Treasury History

Billionaire investor Stanley Druckenmiller criticized U.S. Treasury Secretary Janet Yellen, accusing her of making the "biggest blunder" in Treasury history by not taking advantage of low interest rates. Druckenmiller argued that Yellen should have issued more long-dated Treasury bonds when debt was cheap. He warned of long-term consequences for the U.S. debt picture and predicted that interest expense as a percentage of GDP would rise significantly in the coming years. With U.S. fiscal spending reaching unprecedented levels, the U.S. Treasury is expected to borrow over $1 trillion via short-dated T-bills by the end of 2023. Other high-profile financiers, including Ray Dalio and Jamie Dimon, have also expressed concerns about the U.S. debt situation.