the fed doesn’t need congressional approval anymore, Obama and the Dems passed laws after the GFC allowing the Fed to bypass congress. It did just that on multiple occasions since then, including widely reported billions (maybe trillions) during the big crash at the start of lockdown last year!
the last part about cash being needed to buy bonds is just totally wrong.
I hate these posts made by people who want to sound credible but don’t even know basic facts.
This is wrong on a number of levels:
the fed doesn’t need congressional approval anymore, Obama and the Dems passed laws after the GFC allowing the Fed to bypass congress. It did just that on multiple occasions since then, including widely reported billions (maybe trillions) during the big crash at the start of lockdown last year!
the last part about cash being needed to buy bonds is just totally wrong.
I hate these posts made by people who want to sound credible but don’t even know basic facts.