People often don't understand the implications of an elastic monetary system that is also decentralized because of the way that the Fed and member banks are structured.
There are things the Fed or the government could do to frogmarch devaluation (like, for example, encouraging banks to pay people to carry credit card balances through negative interest rate policy or encouraging no-doc/no-credit check loans of all kinds) but that is not their prerogative.
There are things the Fed or the government could do to frogmarch devaluation (like, for example, encouraging banks to pay people to carry credit card balances through negative interest rate policy or encouraging no-doc/no-credit check loans of all kinds) but that is not their prerogative.