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Powell has mentioned[0] that the Fed is unable to affect fiscal policy, which is the fastest and best solution to certain economic crises. Does this bring the F
by heydenberk 3y ago
Powell has mentioned[0] that the Fed is unable to affect fiscal policy, which is the fastest and best solution to certain economic crises. Does this bring the Fed closer to being able to simply give people money?
[0] https://rollcall.com/2020/06/16/feds-powell-urges-congress-to-spend-on-unemployed-in-pandemic/ https://rollcall.com/2020/06/16/feds-powell-urges-congress-t...
- petronio 3y agoFedNow doesn't change anything other than transaction speed & cost. If your concern is the Fed giving people money directly, they've had the technical capability for a very long time.
- astrange 3y agoThe Fed isn't allowed to give people money, so it doesn't matter what they're able to do. The main problem stopping the government from giving you money is that it doesn't know where you'd want them to send the money to.