Treasury Buybacks Aren’t QE: Where the Money Comes From and What the $4B Move Really Does
The U.S. Treasury is buying back more of its own long-term bonds. That immediately raises an obvious question: If the government is buying Treasury bonds, isn’t that basically quantitative easing? No. The transactions may look similar from a distance, but the mechanics are fundamentally different. A Treasury buyback is primarily a debt-management transaction. The Treasury … Read more