Kenneth Rogoff on the voice of federal chair

Kenneth Rogoff in Project Syndicate Donald Trumpt’s Federal Reserve “For example, so-called quantitative easing involves having the Fed issue short-term debt to buy up long-term government debt. But the US Treasury owns the Fed, and can carry out such debt purchases perfectly well by itself.

Some argue for “helicopter money,” whereby the Fed prints money and hands it out. But this, too, is smoke and mirrors. The Fed has neither the legal authority nor the political mandate to run fiscal policy; if it tries to do so, it runs the risk of forever losing its independence.”

The difference between fiscal and monetary policies
A maverick in the area Stephanie Menusuco Ted Talks One And slightly shorter Two