I'm not an expert on economics, but I think it's obvious on first principles. The constraint on the ability to print money is its devaluation. If the Fed is i

I'm not an expert on economics, but I think it's obvious on first principles. The constraint on the ability to print money is its devaluation. If the Fed is in a position it would want to both tighten the money supply and print money, this seems like the central bank equivalent of a chess position with the King in check.