Is the Fed Monetizing Government Debt?

descriptionPublicationkeyboard_double_arrow_right Article 01 Jan 2013Publisher:Federal Reserve Bank of St. LouisJournal:Economic Synopses, volume 2,013

Authors: David Andolfatto; Li Li;

doi: 10.20955/es.2013.5

Is the Fed Monetizing Government Debt?

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Abstract

Under this latter scenario, the Fed is not monetizing government debt — it is simply managing the supply of the monetary base in accordance with the goals set by its dual mandate.

Keywords

Deficit financing ; Debts, Public ; Monetary policy

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