Key Congress leader says every Treasury sale of debt is a ‘hold your breath’ moment

Republican member of Congress Rep. Frank Lucas is the chair of the confressional Task Force on Monetary Policy, Treasury Market Resilience, and Economic Prosperity.

Axios has a piece on his views on Trump’s attacks on Federal Reserve Chair Powell:

• said the task force has discussed the importance of Fed independence and how to build “the walls higher and stronger and taller.”

• “From my perspective, the challenge is how do you keep my friends in Congress and other political forces around from impeding price stability and impeding the focus of the Fed,”

• “Independence matters to me.”

This is all blah, blah, blah IMO (which may be incorrect, of course) as these guys have been spineless in dealing with Trump.

However, he said something interesting:

• “I don’t know that we need any extra excitement in the markets right now,”

• “We have enough stuff going on. Every Treasury sale of debt instruments—whether it’s bills, bonds, notes, whatever— is a ‘hold your breath’ moment,”

Bolding is mine.

Strong words coming from a man in his position.

Link to the Axios report here.

This article was written by Eamonn Sheridan at www.forexlive.com.