#59 Warren Mosler: What Do Central Banks Do?

Patricia and Christian talk to MMT founder Warren Mosler about quantitative easing, interest rates, inflation and all things MMT in the current context. Please help sustain this podcast by donating to our Patreon! Patrons get early access to our episodes and other patron-only content: https://www.patreon.com/MMTpodcast Transcript of intro to episode 50, for brief explanation of how government bond sales are used to maintain interest rates: https://www.patreon.com/posts/36851479 Full audio of episode 50: https://www.patreon.com/posts/36846931 Episodes 20 and 21, our first interview with Warren, laying some of the basics of MMT: https://www.patreon.com/posts/28004824 , https://www.patreon.com/posts/28142083 Warren's MMT white paper: http://moslereconomics.com/mmt-white-paper/ Warren's book, Seven Deadly Innocent Frauds Of Economic Policy (chapter 5, mentioned in the interview, starts on p59): https://www.moslereconomics.com/wp-content/powerpoints/7DIF.pdf Warren's Pompeii story is in this episode (ep 28): https://www.patreon.com/posts/29265974 Transcript of opening monologue: https://www.patreon.com/posts/39070577