Which means governments can print or they can spend, but they can’t do both simply because production buys goods, services, and labor, not printed money. Markets are wise.

Arthur Hayes believes the U.S. Federal Reserve is preparing to adopt yield curve control, a policy where the central bank fixes interest rates on government bonds by purchasing unlimited amounts of ...

Fed operations create reserves, not spendable money; real money is created when banks make loans, meaning QE changes the form of liquidity, not the quantity of broad money in the economy. This article ...