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re: Hedge fund manager Daniel J. Arbess calls for direct money printing to Treasury
Posted on 5/20/13 at 10:32 am to Doc Fenton
Posted on 5/20/13 at 10:32 am to Doc Fenton
I still dont understand how funding only the tax cuts would have enough of an impact on the money supply to not have to augment it with OMO's though. Or is the argument that the Fed should finance all treasury spending until the threat of deflation subsides?
eta: i dont have a subscription so I couldn't even read the full article, if that matters
eta: i dont have a subscription so I couldn't even read the full article, if that matters
This post was edited on 5/20/13 at 10:34 am
1
Posted on 5/20/13 at 10:43 am to el duderino III
quote:
I still dont understand how funding only the tax cuts would have enough of an impact on the money supply to not have to augment it with OMO's though.
Really? The U.S. takes in over $2.5 trillion in taxes a year. Pumping hundreds of billions of dollars ex nihilo into the economy every year would definitely have a huge impact on consumer prices.
I'm not saying that rate cuts wouldn't still be in order, but it would be rate cuts from 6% to 2.5% rather than from 6% to 0.5%. There's a huge difference there.
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