Show Notes
In a regime where financial conditions never tightened and liquidity never left, the Treasury could open its wallet the same week the Fed decides whether to hike. Is it a fool’s errand?
Chapters 00:00 - Introduction and Topic Overview 02:23 - Defining Financial Conditions vs. Liquidity 05:54 - Liquidity and the Fed's Balance Sheet 08:26 - The Role of the Treasury General Account (TGA) 12:48 - Market Liquidity and Inflation Fears 21:51 - Term Premium and Market Risk 24:41 - The "Liz Truss Moment" and Bond Vigilantes 32:26 - Outro
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