By Pam Martens and Russ Martens: May 29, 2024 ~ When Federal Reserve Chairman Jerome Powell held his press conference on May 1 to explain the Fed’s latest policy actions, more than a dozen reporters showed up to ask questions. Those reporters came from every major business news outlet. (See transcript here.) But on the same date, when the U.S. Treasury’s Assistant Secretary for Financial Markets, Josh Frost, conducted a press conference to announce the details of the Treasury’s plans to issue $125 billion in Treasury debt securities (quarterly refunding), only one reporter from Bloomberg News showed up to ask questions. (See the awkward video at this link.) Perhaps the U.S. Treasury needs to hire a strong arm like Michelle Smith, Director of Communications at the Fed for the past 23 years, to oversee its press conferences. Or, perhaps a lighter touch would be more welcome. Then again, maybe the U.S. … Continue reading $244 Billion of Treasury Debt to Hit the Market Today and Tomorrow as Interest Rates Spike on Ballooning Supply