144 – Peter Stella on Debt, Safe Assets, and Central Bank Operations
Macro Musings with David Beckworth
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The Fed's Supplément Financing Program
After Lehman, the Fed didn't have enough treasuries to absorb it. So one option was, okay, we issue our own debt. New York Fed issues its own debt. Let's hope those reserves. And we get into the Chile. Whatever. Right? Simon Potter: No treasury would ever have done an operation like this. You know that they did this so quickly in such a clever way I think they should be extremely proud of themselves.
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