Debt Ceiling Forces TGA Down And Bank Reserves Out. Is Inflation About To Make A Comeback?
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The Treasury's extraordinary measures to avoid breaching the debt ceiling includes winding down its TGA balance with the Fed. The unintended consequence is to raise the level of bank reserves at the same time the Fed is attempting to reduce them (QT). Will this end up restarting "inflation?" Unpacking TGA, QT, and QE with actual evidence, including the Fed's.
Video Length: 00:19:58
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