Latest / The Federal Reserve Podcast with Fexingo: Interest Rates, FOMC Meetings, and Monetary Policy
Why the Fed Is Watching the Treasury General Account
The Treasury General Account is back in focus as Washington weighs near-trillion-dollar buybacks to calm the bond market — and the Fed is watching closely. In this episode, Lucas and Luna unpack what the TGA is, how it affects bank reserves and money markets, and why the Fed's balance sheet math gets complicated when the Treasury starts spending. With the effective fed funds rate at 3.63 percent and the ten-year yield near 4.7 percent, the stakes are real. They also discuss why Bessent's bond gambit is stirring inflation worries and what tools remain. A listener-supported show…
The skinny
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