The four lines in this graph start with the top, all the securities Bernanke bought since the crash. The second are the excess deposits tracking.
We can see that Ben was keeping interest payments (fourth line) within budget for Congress. The green line is the ten year rate,the rate Congress pays.
But Trumpster is a new deficit kind of guy, and the Senate is stuck. So, lower IOER and buy Treasuries bonds? It seems to fit the Ben pattern. Send stock prices thru the roof. Let the Trumpster be Trumpster. Inflate the pension accounts.
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