A focused study group for the discussion of economics and economic policy.
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© 2020 Relevant Protocols Inc.
A focused study group for the discussion of economics and economic policy.
32023 Members
We'll be adding more communities soon!
© 2020 Relevant Protocols Inc.
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"Fed policy has crossed the fiscal-monetary Rubicon. Our central bank is conducting fiscal policy masquerading as monetary policy. As long as the Fed keeps paying interest on reserves, its balance sheet can (and has) become immense without inflationary consequences. This means the Fed now has much greater power to allocate real (inflation-adjusted) purchasing power."
"Fed policy has crossed the fiscal-monetary Rubicon. Our central bank is conducting fiscal policy masquerading as monetary policy. As long as the Fed keeps paying interest on reserves, its balance sheet can (and has) become immense without inflationary consequences. This means the Fed now has much greater power to allocate real (inflation-adjusted) purchasing power."
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