A member of the Bank of England Monetary Policy Committee has admitted that the Bank already operates in the way modern monetary theory describes: it directly funds government spending with tax being in the equation

Gertjan Vlieghe is a member of the Bank of England Monetary Policy Committee. He gave an important speech last week on monetary policy in the coronavirus crisis, addressing the way issues such as the roles of QE and direct monetary funding (DMF) of government spending by central banks work. The speech is important. In effect […]

source https://thebtrader.com/2020/04/27/a-member-of-the-bank-of-england-monetary-policy-committee-has-admitted-that-the-bank-already-operates-in-the-way-modern-monetary-theory-describes-it-directly-funds-government-spending-with-tax-being/?utm_source=rss&utm_medium=rss&utm_campaign=a-member-of-the-bank-of-england-monetary-policy-committee-has-admitted-that-the-bank-already-operates-in-the-way-modern-monetary-theory-describes-it-directly-funds-government-spending-with-tax-being