Economics
Treasury Quadruples Borrowing Estimates to Pay for Stimulus
- Treasury continues to work down cash stockpile from record
- U.S. to release quarterly debt issuance plan on Wednesday
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The U.S. Treasury more than quadrupled its borrowing estimate for the quarter through June, and expects to need some $1.3 trillion over the second half of the fiscal year to help pay for a raft of fresh pandemic-relief spending.