Winner. Debt servicing costs will mushroom. And inflation will rise causing increased entitlement program costs. The stock market will plummet. The Fed holds 4 trillion of our 18.8 trillion national debt. The Fed is riding on the back of a tiger and has a hard time getting off.
Isn't the Fed's balance sheet on top of the authorized national debt?
Congress did not allocate money for the QEs or any other Fed program, correct? Or do I have that all balled up...