Treasury working to keep its account at the Fed as high and stable as practical, to reduce Reserve Assets at Depositories:
Treasury Secretary Steven Mnuchin indicated the U.S. will keep issuing debt at a steady pace as he seeks to fund a possible extension of the tax filing deadline https://t.co/P4Fh34GLAn— Bloomberg (@business) March 11, 2020
While the Fed is working to increase Reserve Assets at Depositories:
BREAKING: Fed boosts money it's providing to banks in overnight repo lending to $175 billion amid sell-off https://t.co/X1DPuqcceT— CNBC Now (@CNBCnow) March 11, 2020
You have these two govt fiscal/monetary entities working against each other...
Who the hell is in charge?????
3 comments:
Who is in charge? The Fed is "politically independent." This is what you get then.
(Actually, as I understand it anyway, the president could direct the Treasury sec to take charge in an emergency. Attorney Carlos Mucha (beowolf) cited the relevant law some time ago IIRC.)
its 500billion now. what does that mean?
Hey Matt, the morons have made a decision.
They've decided to oppose Trump.
That it happens to be on a payroll tax cut, is pure coincidence.
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