It’s funny seeing all these economists bash MMT given that we know that it has come halfway to taking over the economics profession already and will likely take over the entire economics profession over the next two decades.
Fiscal policy can be useful even with floating exchange rates if there are political limits to what the central bank can do. Politicians might object to the central bank owning too large a % of domestic assets, and other countries might object to the central bank buying assets in their countries (i'm not saying this is necessarily the case, but it could be conceived of as a constraint in some situations).
Fiscal policy can be useful even with floating exchange rates if there are political limits to what the central bank can do. Politicians might object to the central bank owning too large a % of domestic assets, and other countries might object to the central bank buying assets in their countries (i'm not saying this is necessarily the case, but it could be conceived of as a constraint in some situations).