Treasury Secretary Jack Lew made the following statement during remarks today before the Economic Club of Washington D.C.:
“[W]e are relying on investors from all over the world to continue to hold U.S. bonds. Every Thursday, we roll-over approximately $100 billion in U.S. bills. If U.S. bond holders decided that they wanted to be repaid rather than continuing to roll-over their investments, we could unexpectedly dissipate our entire cash balance.”
Wonder why the Fed is Boxed-In?