The Trump administration will undoubtedly appeal, possibly all the way to the Supreme Court. But for now, millions of people across the country will not have to make hard choices about how to feed themselves and their families. Several states that had already declared emergencies to tackle the impending crisis will have at least some temporary relief.
That is how fiat currency works.
Ok, who are the “them” and “they” in this scenario? And how do “they” relate to the Federal Reserve?
I mean it’s someone’s job to approve and allocate the funds month to month. I doubt they’re getting payed right now, though…
So then it’s not “how fiat currency works”.
How’s it work then?
The Treasury (they) creates Treasury Bills and gives them to the Federal Reserve to sell on the open market. The proceeds of these sales are deposit in government accounts to be spent according to appropriations created by Congress.
This guy gets it.