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How U.S. Treasury Is Fighting The Fed | Nouriel Roubini & Stephen Miran on Treasury’s $800 Billion of “Stealth QE” via “Activist Treasury Issuance” (ATI)

Forward Guidance

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Exploring the Impact of Activist Treasury Issuance on Monetary Policy

The chapter delves into the mechanics of U.S. Treasury issuing short-term debt and how it affects monetary policy, blurring the lines between politically driven and independent monetary actions. Economists discuss the implications of these trends on the roles of the Federal Reserve and the Treasury, comparing mechanisms of QE and ATI and exploring their impact on asset prices, economic activity, inflation, and unemployment.

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