Modern Monetary Theory is the new thing among progressives. But it's been tried by many others, including the Roman dictators who ruined the Roman economy and had Rome falling apart before the barbarian invasions.
The demand for loans among consumers and business owners is rising. And that could lead to a flood of new money into the economy. But the Fed is (rightly) afraid of where this might lead.
Financial MarketsHistory of the Austrian School of EconomicsMonetary Theory
Book ReviewsAustrian Economics OverviewHistory of the Austrian School of Economics
Henry Hazlitt's review of Man, Economy, and State published in National Review in September, 1962.
The FedMoney and BanksMoney and Banking
"Digital cash" is the latest terrible idea from those who want to give central banks more power to meddle in the economy.