You mean the huge majority of doctors who are left wing affiliated?
In the Coronavirus Fight in Scandinavia, Sweden Stands Apart
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Exactly. Its totally laughable. GWB tries very hard to pretend he is not part of a massive narrative, but then goes after professionals on the right as being part of a false narrative, while simultaneously ignoring their argument, or the idea that anyone on the left could be pushing a narrative.
The majority of doctors and scientists follow the science and are neutral in publicly advocated their opinions on politically related subjects in the news media. They let their peer-reviewed scientific papers do their "talking".
A lot depends on Congress's fiscal policy. In an emergency, such as the Covid Crisis, Congress made the decision to pump more than a Trillion in. We are awaiting the next relief pakage. The fed doesn't make these decisions. When Treasury writes a check the fed sees that the check will clear by adding the necessary funds to the Treasury's reserve account. When the Pandemic is over the fed will remove some of the excess money as needed to control inflation and interest rates. Those will be fed Governor decisions implemented in coordination with the FOMC. They will do this far more slowly (usually) then the money was spent into the economy by Congress. The fed had begun to remove dollars from the economy toward the end of the Obama administration (I think it was) and start pushing up interest rates a bit. That was rather short lived however as politics and economic circumstances changed. The fed doesn't drive fiscal policy. They will always accommodate the the fiscal policy of Congress. They have no say in those matters, just their opinion, which is sometimes ignored, as it is being right now.
It is helpful to remind ourselves that the fed and Treasury are one giant coordinated government operation made to look like two separate operations by statutory law. Which i think is a good thing.
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I certainly appreciate your Monetary Policy 101 for my benefit, especially clarifying how the Fed doesn't drive fiscal policy. That was helpful. Thank you. I asked you how often the Fed has drained reserves from the system.
The only reason I ask is that after the last crisis in 2007-2008, there was a massive spike in the balance sheet as the Fed went on the Crazy Train of pumping money into the economy. Was that successfully drained in the last decade? Before this crisis occurred?
Utter bullshit
Yeah... it is utter bullshiat that political activists use the guise as doctors & scientists to drive a political agenda. They should stick with writing peer reviewed papers and let the science do the talking.
Please show the three main cosponsors of the this declaration using their guise as doctors to drive a political agenda. I can show you dozens of doctors who have done likewise.
I don't know, but they use to regularly both buy and sell treasuries on the secondary market to hit their aggregate reserve target and control the funds rate. Now that there is no reserve requirement they are mainly interested in putting a low floor under the funds rate, which I believe they are doing by paying a little interest on reserves. Honestly, I have been too busy to keep up with the latest developments. I imagine if you write the fed with your question, they may be able to give you some guidance on that issue.
It's good to remember that ordinarily the main driver of the money supply is credit which the fed can only weakly influence via interest rates, unless rates reach extremes. I believe it was Minsky that introduced the idea of inside and outside money. Outside is determined by the net of what Congress spends into the economy and removes via taxes. Inside is the money created via fractional reserve banking and credit.
Regarding that question, I'm certain it wasn't.