MMT's Warren Mosler Argues Fed Rate Hikes Cause Growth and Inflation

Bob walks through a recent interview of MMT champion Warren Mosler, in which he claims that Fed rate hikes lead to larger government interest expenses and hence support economic growth and inflation. Bob presents both theoretical and empirical evidence against Mosler's claims.

Bob's Debate with Warren Mosler: https://Mises.org/HAP403a
Bob's Review of Stephanie Kelton: https://Mises.org/HAP403b
Bob's EconLib Article on Austerity: https://Mises.org/HAP403c
Technical Article on Why the Treasury Can't Overdraft: https://Mises.org/HAP403d

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Chapters
00:00 Against Our Limitless Regime
01:00 Introduction
04:07 Are MMTers Even Worth Arguing With?
09:12 Mechanics of Government Spending According to MMT
13:07 The Actual Mechanics of Government Spending
22:02 The 1980s Recession: Caused by Raising Rates?
28:41 Explaining MMT's view of Inflation
31:55 Inflation and Recessions
41:28 MMT vs the Data
44:36 Historical Examples Disproving MMT
53:03 Mosler's Logic Behind Interest Rate Hikes Preventing Recession
01:02:55 Mosler's Logic vs the Data
01:08:48 Conclusion