Toward an Activist Central Bank

The U.S. national debt was already a concern leading up to 2019. In a post-2008 crisis bailout world, “they” continued to spend and spend and spend. Obama spent trillions. Trump spent trillions more. The financial system was ill-prepared to deal with the pandemic and a “lockdown” of the economy. “Meh,” the Modern Monetary Theorists say, “spend all you want; we’ll print more.” Next stop: inflation…