Episode 005. Is Bessent Helping?

The Treasury secretary is hoping to lower yields by increasing buybacks but the effectiveness of such tools has diminished in a high inflation era.

Chapters

00:00 - Teaser & Introduction

01:09 - The Treasury's Rough Week

03:13 - Opening the Toolbox: Fed vs. Treasury

08:00 - The TBAC and the Optimal Issuance Mix

11:39 - The Core Issue: Unchecked Inflation

20:43 - Washington's Reluctance to Fix the Deficit

29:12 - Closing Question: Warsh vs. Bessent

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