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DogEars's avatar

Perfect Friday post!

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The Rational Walk's avatar

By the St. Louis Fed’s own definition, the Fed has absolutely monetized the debt. For some reason, few reporters have noticed. From 2013: https://research.stlouisfed.org/publications/economic-synopses/2013/02/01/is-the-fed-monetizing-government-debt/

I recently finished Kelton’s “The Deficit Myth” promoting MMT. Although full blown MMT promoted by Kelton is far more expansive than the monetization we have seen so far, I’d say we are adopting much of her playbook without anyone wanting to acknowledge it.

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