BONUS: George Selgin on the Fed Taper and Shrinking the Fed’s Balance Sheet
Macro Musings with David Beckworth
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The Fed's Balance Sheet Becomes a Target for Political Causes
The Fed's balance sheet becomes a tempting target for different political causes, different political interests groups. The appearance that they're getting a subsidy creates bad optics. I want the fed to be able to say no trupe when it isn't necessary formon purposes. And i believe the easiest way it can do that is if it would not be able to achieve its macor economic objectives.
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