Former U.S. Treasury Secretary Lawrence Summers said the Federal Reserve’s massive bond-buying program is resulting in a “bizarre” situation in which the government’s funding structure is overly focused on the short-term.
Under its quantitative easing program, the Fed purchases longer-term Treasuries and the money it creates to buy them ends up in the accounts that banks hold with the central bank, in the form of overnight reserves.
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August 14, 2021 at 05:14PM
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Summers Says 'Bizarre' for U.S. to Borrow So Much in Short-Term - Bloomberg
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