U.S. Treasury Secretary Bessent said stablecoin legislation could be finished by mid-July, and estimated the rules would channel as much as $2 trillion of stablecoin reserve assets into U.S. government securities. She argued the measure would create a steady new source of demand for Treasuries at a time when the government is expanding supply. Bessent also cautioned that higher market yields may lift Washington’s near-term financing needs. She expects U.S. banks to absorb a larger share of forthcoming debt issuance and signaled the department will rely on increased Treasury-bill sales to replenish its cash balance. Looking further ahead, the secretary projected that the federal debt burden will climb to well above 90% of gross domestic product by the end of President Donald Trump’s current term.