Peter Stella on the Quasi-Fiscal Implications of Central Bank Crisis Intervention
Macro Musings with David Beckworth
00:00
The Tension Between the Fed and the Treasury
Peter Navarrette: There are cross purposes sometimes in terms of the direction for the maturity duration, the structure of public debt. He suggests that if the Fed does find itself in a situation like it's in today, the government could transfer liabilities on the Fed's balance sheet over to the treasury. Navarrette says he has been talking about this since 2009, 2014.
Transcript
Play full episode
