Treasury General Account
The discussion focused on using the Treasury General Account to purchase government bonds, with Clem Chambers interpreting that as a form of quantitative easing and suggesting the Federal Reserve may prefer to delay action until after the midterms 2. Brent Johnson instead examined broader Fed–Treasury coordination, arguing that Treasury and the Fed have sometimes acted at odds, as when the TGA was drawn down during 2022 tightening 1. The episode also discussed a possible gold revaluation that could increase the TGA by roughly $1 trillion, which Erik Townsend challenged as an accounting re-mark rather than genuine capital raising 1.
From the window to Oct 13, 05:30 ET — this window's take is still to be written.
Where the voices land
Nobody took a position this week.
Mentions
1 this weekStories it travels in
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The stories
- ○ a voice, on the left
- ◌ a voice raising half of these
- ● a subject, on the right, under its story
- ⌒ a line is a voice raising a subject — thicker, more items; colour is the story
The stories this entity travels in: on the right, each story with the subjects seen alongside it; on the left, the voices that raised them, and a line for every subject a voice raised, bundled by story. Tap a voice to light everything it raises, a subject for who raised it, a story for its own lines. The crumb goes back.
Who brings it up
- Erik Townsend 1 mention
- Patrick Ceresna 1 mention
- Brent Johnson 1 mention
See what your own voices say about Treasury General Account, every morning.
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