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Internecine Chaos

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Treasury working to keep its account at the Fed as high and stable as practical, to reduce Reserve Assets at Depositories: Treasury Secretary Steven Mnuchin indicated the U.S. will keep issuing debt at a steady pace as he seeks to fund a possible extension of the tax filing deadline https://t.co/P4Fh34GLAn — Bloomberg (@business) March 11, 2020 While the Fed is working to increase Reserve Assets at Depositories: BREAKING: Fed boosts money it's providing to banks in overnight repo lending to 5 billion amid sell-off https://t.co/X1DPuqcceT — CNBC Now (@CNBCnow) March 11, 2020 You have these two govt fiscal/monetary entities working against each other...Who the hell is in charge?????

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Treasury working to keep its account at the Fed as high and stable as practical, to reduce Reserve Assets at Depositories:

While the Fed is working to increase Reserve Assets at Depositories:

You have these two govt fiscal/monetary entities working against each other...

Who the hell is in charge?????

Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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