The Minutes of John Williams on treasury https://minutesof.com/john-williams/on/treasury/ Everything John Williams has said on treasury: 1 verbatim quote, each with a timestamp and a link to the recording it came from. en Sun, 30 Aug 2026 16:23:03 +0000 Williams says Treasury's target TGA balance has grown from $320 billion in 2016 to $850 billion in 2025. https://minutesof.com/q/c4f16071-075a-4a27-870f-f5fbf4e429a2/ https://minutesof.com/q/c4f16071-075a-4a27-870f-f5fbf4e429a2/ “Treasury has increased its assumed quarter-end TGA balance from $320 billion in early 2016 to $850 billion on average in 2025.” — NY Fed speeches treasury