The Four Pillars of Macro with Andy Constan
Excess Returns
00:00
Does She Use the Lever?
Right now, the Treasury has a stated policy to maintain supply of long-term duration at around 300 billion a quarter. And whatever they don't need or need more of, they issue the rest in bills. The thing is that they also have to manage rising and falling budget deficits because that has an impact on the quantity. So there are consequences of using it.
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