Recent Rise in Federal Government and Federal Reserve Liabilities--Antidote to a Speculative Hangover

Dimitri Papadimitriou and Greg Hannsgen

Economics Strategic Analysis Archive from Levy Economics Institute

Abstract: Federal government and Federal Reserve (Fed) liabilities rose sharply in 2008. Who holds these new liabilities, and what effects will they have on the economy? Some economists and politicians warn of impending inflation. In this new Strategic Analysis, the Levy Institute's Macro-Modeling Team focuses on one positive effect--a badly needed improvement of private sector balance sheets--and suggest some of the reasons why it is unlikely that the surge in Fed and federal government liabilities will cause excessive inflation.

Date: 2009-04
New Economics Papers: this item is included in nep-cba, nep-mac and nep-pke
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