31 October 2023
Stanley Druckenmiller blasts Treasury Secretary Janet Yellen for a colossal oversight in not locking in low rates with long-term bonds amid the pandemic, a move he brands as arguably the worst Treasury blunder ever. As a result, he predicts a grim future where soaring interest costs strangle the federal budget, dwarfing discretionary spending and burdening generations to come with unsustainable debts.