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("The way Tim came up through Treasury is that he was the only one who would tell Summers he was full of shit or that an idea was stupid," a Treasury official told me).
Bill Bock, a spokesman for the Treasury Department, said that the 60percentt of the national debt that is held by the public through Treasury bonds and the like peaked in 1997.
Only Richmond Fed President Jeffrey Lacker dissented from Wednesday's action, preferring an immediate expansion of the monetary base through Treasury purchase, rather than the wait-and-see attitude other members preferred.
U.S interest rates are hitting historic lows and a flood of liquidity is coming into financial markets through Treasury bonds, he adds, noting that low interest rates did not do much to speed recovery in Japan in the 1990s and he does not expect them to help much in the U.S. now.
Per the Treasury Department's press release, "After today's repayment, the U.S. Government's remaining outstanding investment in AIG through Treasury is $51 billion".
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More garden-variety ways of blunting inflation are through Treasury Inflation Protected Securities and commercial real estate.
His organization is one of a small number that are authorized by the U.S. government, through Treasury Department licenses, to do so.
Apply through UCAS.
Previous reauthorizations sailed through Congress.
His financing came through Valley National Bank.
BP Solar unloaded equipment through Heritage earlier this year.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com