Really good piece about what the Fed will do if the government defaults on it's debt because of debt ceiling idiocy. TLDR; They will buy defaulted securities.
https://www.crisesnotes.com/i-got-the-fed-to-release-its-2011-treasury-default-playbook-heres-what-it-says-and-why-it-matters/
#finance #politics #DebtCeiling #MMT
@mempko but how would they square that with its impacts to their mandate of stable monetary value?
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