Peter Stella on Fed Losses, Backdoor Fiscal Stimulus and Credit Easing
Macro Hive Conversations With Bilal Hafeez
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The Fed's Balance Sheet
I worry about central bank losses in a context where it's not an economic problem because of my vast experience with this trend towards quasi-physical spending. The question is, what is the appropriate governance structure for this thing? We need to think about this. Should the Treasury be doing this, or should the Fed be doing this? Or should someone else be doing this?"
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