- As the U.S. Treasury Department refills its General Account by selling assets, $1 trillion in liquidity could be drained from markets, warned James Lavish, co-Managing Partner at the Bitcoin Opportunity Fund and Author of"The Informationist" Substack. This, in turn, could"break" markets and cause a sell-off.
The Treasury Department needs to raise funds to replace its cash balance, which fell from $723.3 billion to $44.8 billion over one year as the Treasury used its funds to fulfill government spending obligations. The Treasury General Account, which is the federal government's operating account, was used to fulfill these obligations during debt ceiling negotiations in Congress.
To find out how this can affect markets and potentially trigger another banking collapse, watch the video above.As the Treasury causes market conditions to tighten, the Federal Reserve may be forced to"ease up" on its quantitative tightening program and pause rate hikes, said Lavish. Lavish added that Fed Chair Jerome Powell wants to"keep confidence in the U.S. dollar," and that Powell is willing to"sacrifice" low unemployment for lower inflation.
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