Adeyemo Says US Treasury Auctions Costlier on Debt-Limit Strains

Deputy Treasury Secretary Wally Adeyemo said the US government is incurring extra costs to sell debt as a result of the partisan standoff over increasing the federal borrowing limit, and underscored the importance of a deal to end the matter.

“We’re making progress in terms of the negotiations, and I think everyone’s goal is to make sure that we raise the debt limit,” Adeyemo said Thursday to a gathering convened by the Investment Company Institute. “We shouldn’t be here. This is a manufactured crisis.”

Adeyemo said that costs could already be seen after Treasury Secretary Janet Yellen indicated to ...