No Fed, No Debt

Isn't it ironic
Don't you think?
--Alanis Morissett

Earlier this week Fed chair Jerome Powell testified in front of Congress that he is worried about the federal budget deficit and called the level of federal debt 'unsustainable.'

Pot, meet kettle.

The Federal Reserve, through its low interest rate policies, is the enabler of big federal deficits and debt.

As noted here, this is the drug dealer lecturing to junkies about their habit.

Without the Federal Reserve (and other central banks), there would be no deficit or debt problems.