Last time the Fed did this in the 1940’s it led to 20% inflation. When Germany did it in the 1930’s it led to hyperinflation.

The Fed just admitted markets won’t buy $9 trillion of federal debt coming due.

So the Fed will.

Last time the Fed did this in the 1940’s it led to 20% inflation. When Germany did it in the 1930’s it led to hyperinflation. pic.twitter.com/psiog1hcLo

— Peter St Onge, Ph.D. (@profstonge) December 15, 2025