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2min chapter
Is Sound Money the Answer? with George Gammon (WiM268)
The "What is Money?" Show
The Federal Reserve Act Prohibits the Federal Reserve From Directly Creating M2 Money Supply
The Federal Reserve Act right now prohibits the Federal Reserve from directly creating M2. But when they were buying government bonds and things like this recently, it sort of starts to blur the line. It does because it depends on who they're buying from. They buy from a non-bank entity that's increasing M2 if they're bought from a bank and it's not. If you look at the whole from 1913 to 2020, it would not have impacted it to a significant degree.
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