[jorblumesea]

> would be expand the Federal's reserves responsibilities into the fiscal space.

This is a very complex solution for a problem we already have the tools to solve. Politicians should just execute proper fiscal policy instead of leaning on the fed for every solution. We already have a decent system for this, which has historically worked, but no one is using it.

Other countries are able to execute proper fiscal policy without complex central banking paradigms or measures.

The real issue is our inability to plan long term fiscal policies at almost every level of our political system.

[NTDF9]

> Other countries are able to execute proper fiscal policy without complex central banking paradigms or measures.

Which countries?

[aleph_naught]

Historically we've had the opposite problem. Countries tend to move toward austerity at the wrong moment in time, due to political pressures or pressure from debtors. (Though this is much more difficult to navigate when the country's debt is denominated in a foreign currency e.g. Japan with 200%+ debt to gdp which is having a hard time meeting inflation targets vs Argentina).

Even today, the European Central Bank is signaling that it has effectively done all it can do (without permanently harming the banking sector with negative rates), and that it is time to open the doors to fiscal stimulus; but, Germany, which is going through a manufacturing recession, is loath to update their constitution to facilitate fiscal stimulus.

[jorblumesea]

All of Scandinavia, most of Northern Europe, Australia, parts of Asia, Canada.