The Differences Between the Fed and the Treasury

Joseph Stiglitz: Deficit spending is printing money out of the near going to buy things. That's obviously inflationary, so I have trouble understanding why it could be transitory. He says when you create this money, it doesn't just disappear, it circulates in the economy. Eventually, it will be spent either rebalanced into let's say, risk assets like equities or it can go and buy cars and houses," he said.