A newly published white paper is causing a stir on Wall Street and in Washington by accusing the Treasury Department of conspiring to boost the economy for political ends, and of risking a revival of inflation in the process.
The paper, published last week, claims that the Treasury Department’s decision to continue financing an outsize chunk of the U.S. debt with short-term Treasury bills is tantamount to deliberate manipulation of the economy. Its authors even invented a term for this: “activist Treasury issuance.”
The game is rigged, never forget that!