US Treasury to borrow $776 billion in Q4

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Watch on - The U.S. Treasury Department said on Monday it expects to borrow $776 billion in the fourth quarter, $76 billion less than it had anticipated in July, on expectations of higher receipts, which will be somewhat offset by higher outlays.

The reduced $776 billion October-December borrowing estimate would still be a record amount for the period, the largest since $689 billion borrowed in October-December 2021 amid high COVID-19 relief outlays.The Treasury also announced it expects to borrow $816 billion in debt in the first quarter of 2024.

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