Translation for the uninitiated: US GOVERNMENT TO PRINT MORE CURRENCY.
The Treasury prints Bonds. The Fed prints Federal Reserve Notes. They exchange them so the Treasury gets the FRNs and the Fed gets the Bonds and both pretend these are assets. The Treasury does more than pretend. It spends those FRNs that didn't exist last week.
I like to call the Bonds and the FRNs I-owe-me's. But whatever, it's fraud pure and simple.
ML/NJ
The Treasury sells bonds. The Bureau of Printing and Engraving prints Federal Reserve Notes. The Fed monetizes Treasuries. Congress spends the FRNs that the Fed creates out of Treasury notes.