GLJ Research’s Gordon Johnson says more U.S. Treasury bill issuance used to buy Treasury bonds is not quantitative easing, because it creates no new cash or ban

BWB News TV • 2026-08-19 17:36 UTC • By Billy Odell Tucker-Robinson

GLJ Research’s Gordon Johnson says more U.S. Treasury bill issuance used to buy Treasury bonds is not quantitative easing, because it creates no new cash or bank reserves, challenging a common market view.

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