""The executive branch is getting very creative using the pockets of money at their disposal with no congressional oversight," Ed Al-Hussainy, portfolio manager at Columbia Threadneedle, tells Axios."
""The American people gave President Trump a resounding Election Day mandate to smash Washington, D.C.'s broken status quo and actually put Americans and America First," White House spokesman Kush Desai tells Axios. "That includes advancing an America First agenda to turn the page on Joe Biden's affordability crisis and safeguard our national security without needlessly blowing taxpayer money.""
""I would not think that they will stick to traditional methods to accomplish their goals. They've said what they want. The market seems to be ignoring them," Tchir said."
The executive branch is using unconventional pockets of government capital to advance policy aims without congressional approval. Examples include tapping the Treasury's Exchange Stabilization Fund for a currency swap with Argentina, proposing unspecified capital to backstop Venezuelan oil assets and to potentially purchase Greenland, and directing Fannie Mae and Freddie Mac to buy $200 billion of mortgage-backed securities to lower rates. Market participants expect continued creative financing measures to reach political objectives, and some warn the ultimate escalation would be using the Federal Reserve's balance sheet for discretionary policy purposes.
Read at Axios
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