Monetary Policy & Inflation | US
The Treasury Government Account (TGA), which is the US Treasury’s checking account at the Fed, has become so large that the Fed may have to coordinate with the Treasury to adjust its stance, which market participants could view as inconsistent with Fed independence.
This article is only available to Macro Hive subscribers. Sign-up to receive world-class macro analysis with a daily curated newsletter, podcast, original content from award-winning researchers, cross market strategy, equity insights, trade ideas, crypto flow frameworks, academic paper summaries, explanation and analysis of market-moving events, community investor chat room, and more.