Rutherford Moves From Cornfield Crisis Maven to U.S. Debt Funder
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Matthew Rutherford played a key role as the Treasury navigated the global financial crisis, the first downgrade of U.S. government securities and a record budget deficit. What lies ahead for him will be much subtler.
The 35-year-old assistant secretary for financial markets oversees $12.6 trillion in U.S. bonds, notes and bills, and advises Secretary Jacob J. Lew on the gyrations in markets from Ukraine to Brazil. Since 2008, the Federal Reserve has boosted demand, adding $1.8 trillion in Treasuries to its portfolio to keep long-term borrowing costs low.