3 ms·
Exactly — this is nowhere close to MMT. Stabilizing the price of the USD during recessions is literally the definition of Keynesian.
by tylerhou 6y ago
Exactly — this is nowhere close to MMT. Stabilizing the price of the USD during recessions is literally the definition of Keynesian.
- ric2b 6y ago> Stabilizing the price of the USD during recessions is literally the definition of Keynesian. Except the reverse doesn't happen (since the gold standard was dropped), so it's at best "half-Keynesian": https://fred.stlouisfed.org/series/fedfunds https://fred.stlouisfed.org/series/fedfunds