How can the Fed unlimited QE be deflationary?

[wabuffo]

Was wondering if you have any books or resources you recommend to become better versed in this area? You clearly have spent a lot of time on this topic.

 

Castanza - I'm largely self-taught.  No one book really puts it all together, IMHO.  But I would recommend the following two books.  There are parts in each one that are good and parts that aren't as relevant.  But if you take the best of both, you could get some good insights.

 

Understanding Modern Money by L. Randall Wray.  Its a bit dated now - but you might be able to find a used copy.  Also - there are good chapters where he explains the monetary system from both a central bank as well as a fiat-issuing sovereign government perspective.  But also feel free to ignore the prescriptive portions like the job guarantee.

https://www.amazon.com/Understanding-Modern-Money-Employment-Stability-dp-1845429419/dp/1845429419/ref=mt_other?_encoding=UTF8&me=&qid=1596574827

 

Pragmatic Capitalism by Cullen Roche.  Roche is not a MMT-believer but he does a very good job explaining how the Fed works.  This book covers other topics but its chapters on monetary operations are well done and easy to understand.

https://www.amazon.com/Pragmatic-Capitalism-Every-Investor-Finance/dp/1137279311/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1596575676&sr=1-1

 

wabuffo

[Castanza]

Was wondering if you have any books or resources you recommend to become better versed in this area? You clearly have spent a lot of time on this topic.

 

Castanza - I'm largely self-taught.  No one book really puts it all together, IMHO.  But I would recommend the following two books.  There are parts in each one that are good and parts that aren't as relevant.  But if you take the best of both, you could get some good insights.

 

Understanding Modern Money by L. Randall Wray.  Its a bit dated now - but you might be able to find a used copy.  Also - there are good chapters where he explains the monetary system from both a central bank as well as a fiat-issuing sovereign government perspective.  But also feel free to ignore the prescriptive portions like the job guarantee.

https://www.amazon.com/Understanding-Modern-Money-Employment-Stability-dp-1845429419/dp/1845429419/ref=mt_other?_encoding=UTF8&me=&qid=1596574827

 

Pragmatic Capitalism by Cullen Roche.  Roche is not a MMT-believer but he does a very good job explaining how the Fed works.  This book covers other topics but its chapters on monetary operations are well done and easy to understand.

https://www.amazon.com/Pragmatic-Capitalism-Every-Investor-Finance/dp/1137279311/ref=tmm_hrd_swatch_0?_encoding=UTF8&qid=1596575676&sr=1-1

 

wabuffo

Thanks for the recommendations, I will take a look.