Money Doesn’t Grow on Trees

null Dec. 28, 2023 12:41 pm ETI’m no economist, but these lines by John Cochrane terrify me: “Since the Fed can costlessly buy bonds and issue interest-paying money, providing such “liquidity” is free. So, provide it in abundance. Money is the oil in the economy’s engine, and it’s free. Fill ’er up” (“The Federal Reserve Deserves a Pat on the Back,” op-ed, Dec. 27).Joseph SchmidtCopyright ©2023 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8Sponsored OffersTurboTax: Up to 10% off online tax services with TurboTax discount codeThe Motley Fool: Epic Bundle - 3x Expert Stock RecommendationsH&R Block Tax: Get 20% Off H&R Block tax software productsTop Resume: Top Resume Coupon: 10% Off professional resume writingeBay: Unlock 10% Off orders With this eBay couponGroupon: Extra 30% off the sale price with Groupon discount code

A person who loves writing, loves novels, and loves life.Seeking objective truth, hoping for world peace, and wishing for a world without wars.

Opinion Dec 29, 2023 Add to Reading List

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Dec. 28, 2023 12:41 pm ET

I’m no economist, but these lines by John Cochrane terrify me: “Since the Fed can costlessly buy bonds and issue interest-paying money, providing such “liquidity” is free. So, provide it in abundance. Money is the oil in the economy’s engine, and it’s free. Fill ’er up” (“The Federal Reserve Deserves a Pat on the Back,” op-ed, Dec. 27).

Joseph Schmidt