Exact(4)
A desire for safety has made Treasury yields unusually low as investors have become more wary of state and local governments' creditworthiness.
When Mr. Giscard d'Estaing became president that year, Mr. de Larosière was made Treasury director, a post he held until moving to the I.M.F.
They made Treasury Secretary Jack Lew answer 444 questions, more than the previous seven nominees for the job combined, and have come up with 1,000 questions for the nominee to run the Environmental Protection Agency, Gina McCarthy.
By lowering the borrowing cost, the Fed made Treasury bills easier for banks to acquire, helping to satiate frenzied demand for these securities.
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