Cycles Against Trends (guest: Alfonso Peccatiello)
The Market Huddle
00:00
The Treasury General Account and Liquidity Drain
The Treasury General account is the account that the government of the United States owns at the Federal Reserve. It's basically like the checking account of the government at the Fed. The U.S. plans to issue $500 or $600 billion of T-bills mostly over the next couple of months. But some on Wall Street and Bay Street believe this will cause a liquidity drain.
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