Latest / The Federal Reserve Podcast with Fexingo: Interest Rates, FOMC Meetings, and Monetary Policy
Treasury Buybacks and the Fed's Balance Sheet Endgame
With the Treasury General Account reportedly near one trillion dollars and bond buybacks back in the headlines, Lucas and Luna unpack what the Fed's balance sheet runoff really means for markets. They connect the dots between the Fed's quantitative tightening, the plumbing of money markets, and the Treasury's cash management strategy. Using the latest data — including the fed funds rate at 3.63 percent and interest on reserve balances at 3.65 percent — they explain why the gap between these two rates matters and how the Fed's tools are evolving. The episode drills into the…
The skinny
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