Treasury

U.S. Sanctions China for Purchasing Russian Warheads

The United States imposed sanctions on China on Thursday for buying fighter jets and missile systems from Russia, which violates the U.S. sanctions law punishing Moscow for their alleged meddling in the 2016 presidential election.

The US sanctions a Chinese military organization for buying from Russia S-400 surface-to-air missiles and Sukhoi Su-35 fighters, like this one pictured landing at a Russian base in Syria

Treasury Rates at Zero Percent 46 Times Since 2008

Treasury Bill rates have recently fallen to zero percent, but few Americans understand that since September 2008 this has happened 46 times, and about 3 percent of all U.S. government debt under one year in maturity has been sold without paying any interest during the last 7 years.

REUTERS/RICK WILKING

Bernanke on Hamilton: Say it Ain’t so, Jack

I must admit I was appalled to hear of Treasury Secretary Jack Lew’s decision last week to demote Alexander Hamilton from his featured position on the ten dollar bill. My reaction has been widely shared, see for example here, here, here, here, and here.

Hamilton Cleaning (Reuters)