Andrew Levin on the Costs and Benefits of QE4 and the Future of the Fed’s Balance Sheet
Macro Musings with David Beckworth
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QE4 - Is the Federal Reserve Getting Near Fiscal Dominance?
The Federal Reserve can use the proceeds from issuing paper currency to hold Treasury securities that do pay interest. It's just more of the Democratic legitimacy question versus do they have the ability to control interest rates? In other words, are they getting near fiscal dominance if this number gets too big? I call it the Golden Goose that lays the gold legs.
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