Central banks should sell money, not give it away

„The Financial Times has an article that discusses how central banks could give away money during a recession, in order to stimulate the economy:

In the past, central banks set the price of money using interest rates. In the future, it seems, they will be giving it away. . . .  One problem with this common sense idea is its simplicity, which rarely appeals to economists charged with taking important decisions.

I like uncomplicated ideas, but I don’t see how this idea would be “simple”.  Who would get the money?  You might argue for a neutral policy of everyone getting a check for $5000.  But even that raises questions.  Does everyone include children, or is it $5000 per household?  Those decisions have distributional consequences, and have traditionally been made by elected representatives.“ (…)

Central banks should sell money, not give it away