AFAIK The Fed is solely in control of monetary policy and money supply and doesn't have to listen to Congress. Congress can only sell bonds on the market. Not making a value judgement about banks vs gov, but indirectly corporate borrowers and the Fed could cause inflation without Congress.
I am but a simple ape, so I must assume you know more than me about our money printing system, but I know we are far from constitutionally assigned roles at this point. I just don't think Congress has much control over that right now -- except obvs they should not spend more money than they have or else the Fed has to print more. On that we agree.
AFAIK The Fed is solely in control of monetary policy and money supply and doesn't have to listen to Congress. Congress can only sell bonds on the market. Not making a value judgement about banks vs gov, but indirectly corporate borrowers and the Fed could cause inflation without Congress.
Only with the emergency measures they gave themselves in response to the GFC. Most of their history they never did make their own money.
I am but a simple ape, so I must assume you know more than me about our money printing system, but I know we are far from constitutionally assigned roles at this point. I just don't think Congress has much control over that right now -- except obvs they should not spend more money than they have or else the Fed has to print more. On that we agree.