Stunning: Minneapolis Fed President Put Out Tweet Indicating He Doesn’t Know How the Fed Creates Money

“Be sure to read the tweet carefully. It clearly shows that Kashkari has no idea why the Fed is doing repo operations and why banks would want to swap T-bills for Fed reserves.

Here is the New York Fed explaining why they do repo transactions (my bold):

https://www.economicpolicyjournal.com/2020/01/stunning-minneapolis-fed-president-put.html?m=1