ilhan dögüs (@ilhandogus.bsky.social)

Cast aside treasury markets don't break down, why and how do CBs intervene? 1- CBs create money out of nothing. 2- To control interest rates. So, money supply is endogenous, interest rates are exogenous, as post-Keynesians point out. Then, austerity policy is nonsense. Right? x.com/i/status/203...

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IMF on X: "When Treasury markets break down, central bank intervention may be unavoidable, but it must be targeted and clearly separated from monetary policy, @ChicagoBooth's Anil Kashyap and @Harvard's Jeremy Stein write in F&D magazine. https://t.co/F3NAvrfU2M https://t.co/xa3CnmHdLC" / X When Treasury markets break down, central bank intervention may be unavoidable, but it must be targeted and clearly separated from monetary policy, @ChicagoBooth's Anil Kashyap and @Harvard's Jeremy Stein write in F&D magazine. https://t.co/F3NAvrfU2M https://t.co/xa3CnmHdLC https://x.com/i/status/2031807550488998101