Like his claim that the Fed sets interest rates on Treasury Bills.
Rather than admit he was mistaken, he digs deeper and deeper into his hole.
They set the rates they sell at. That is the prerogative of governments selling governmental issues, Todd. They have delayed, deferred, and reduced sales before based on preliminary indicates they wouldn't get sales at their price.
Instead of admitting he was wrong, he has to claim that a Treasury auction really isn't an auction. And that the Feds change the size or date of an issue.
He's afraid that admitting an error will destroy his credibility. LOL!
It always boils down to semantics. How boring.