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David Schweikert: “But you've been running for dramatically higher than that…”

Featuring: David Schweikert, Republican | U.S. House, Arizona, District 1

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'This Is Not A Gotcha Question': David Schweikert Presses Janet Yellen About Low Cash Balances

Published | Video Starts at 02:00

I don't think we need legislation. We have standing policy on operating cash balances. And I believe around 500 billion would be a normal level given the volume. But you've been running for dramatically higher than that traditional 5,600 billion. You know, I think in the previous quarter you were running in the mid-800s. Now you're running over 900. I think it depends on what our flow of expenses are, can vary over time, and of course it has ups and downs as we, you know, tax collections are bunched around April 15. (02:00–02:11)

CLAIM

Asserts that the Treasury's cash balance was in the mid-800s billion last quarter and is now over $900 billion.

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