Scott Peters Piles Into US Treasury Bills

Scott Peters, the Democrat representing the 50th congressional district of California, bought $100,000 to $250,000 worth of US Treasury bills on 7th February 2023, according to his latest filings.

Was he too early in executing this trade? The FED announced a 25 basis points rate hike last week, which would have lowered the price of these bonds. And if we are to take Chairman Jerome Powell’s words for it, there are more rate hikes coming. 

The FED chairman was of the opinion that a couple more rate hikes might be enough to keep inflation under control. There are signs that US inflation is decelerating and if that trend continues, we can expect the Fed to pause the increases in the short term.

Scott Peters is a member of the Democratic party, having been so since 2012. He has served on the US Environmental Protection Agency (EPA) before and is a strong proponent of healthcare, economic reforms, and environmental protection. Before joining Congress, he also served as a port commissioner from 2009 to 2012, where he was the chair of the Port Commission in 2011.