144 – Peter Stella on Debt, Safe Assets, and Central Bank Operations
Macro Musings with David Beckworth
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How to Use the Fed to Manage Your Sovereign Balance Chain
The US treasury for decades has had a nice yield curve and their issuing. Then all of a sudden, right, this big spike, like overnight, overnight liability appears. So how would this work with the Fed? Let's use the Fed. If Jay Powell's listening now, if Steve Mnuchin's listening now,. would this work? Okay. Just say to the, the, the power says to Mnuchin. Look, you know, that, that stuff, that's for you to manage. You should be managing that.
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