> I don't see how those are liabilities of the Federal Reserve, but maybe I'm missing something? To my sibling: Missing is the fact that US dollars are bank no

> I don't see how those are liabilities of the Federal Reserve, but maybe I'm missing something? To my sibling: Missing is the fact that US dollars are bank notes issued by the Federal Reserve. Issuing a note creates a liability. https://www.federalreserve.gov/monetarypolicy/bst_frliabilities.htm https://www.federalreserve.gov/monetarypolicy/bst_frliabilit...