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federal deficit

interest on excess reserves, output gap, debt monetization, fiscal policy, federal deficit
Booms & Busts, Financial Markets, Money & Politics

The Output Gap, the Federal Budget Deficit, and the Threat of Debt Monetization

Larry White/May 15, 2018June 19, 2022

In April 2018 Congressional Budget Office issued a report on the state of the federal budget in light of the “Tax Cuts and Jobs Act” enacted in December 2017,  the “Bipartisan Budget Act” enacted in February 2018, and the “Consolidated Appropriations Act” enacted in March. The CBO…

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