> Treasury can't just set a price and expect people to pay The Federal Reserve is the largest purchaser of UST, so effectively yes, they can. As long as QE is

> Treasury can't just set a price and expect people to pay The Federal Reserve is the largest purchaser of UST, so effectively yes, they can. As long as QE is happening, and as long as the rest of the world doesn't stop calling USTs "risk-free assets", it won't ever stop. If somehow the US loses its grip on that status, though, all bets are off.