Nathan Tankus on the Future of MMT and How to Avoid U.S. Debt Default
Macro Musings with David Beckworth
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Can the Federal Reserve Issue Securities?
The Federal Reserve could issue its own treasury bills or Fed bills, I guess we would call them. That will give the Fed total control over how many quantities of securities to issue at any given maturity across the yield curve and have much greater control on the interest rates as a result because they are the ones that issue it. For all the talk of central banking dependence, there's this day to day coordination and kind of cajoling that the Federal Reserve has to go through to get the securities that they want. Whereas this suggestion, which we were kicking around and apparently Albert Hart proposed is the Fed should just be in charge of that. It makes more sense. This is monetary policy tool. They
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