Source: EconLog
by Leonida Zelmanovitz
‘Much of the contemporary debate about monetary policy focuses on technical questions: whether reserves should be scarce or abundant, whether fintech companies should have master accounts at the Federal Reserve, whether those accounts should resemble the accounts held by banks, or how far the Fed’s independence should extend. These are not unimportant questions. Yet these questions are secondary to the central issue shaping American monetary policy today: the fiscal needs of the federal government.” (06/16/26)
https://www.econlib.org/econlog/fiscal-dominance-and-the-politicization-of-money