>Sorry, I misspoke. I meant 'physical' in the sense of 'fundamental'. So,
>you are saying that such limits have never been tested before? That the
>Fed has never been forced before to stop printing money against its will
>by more-or-less immediate and unavoidable events brought on by the
>printing itself? Interesting.
Their most heroic modern intervention was after the 1987 stock market crash. They & their colleagues pumped furiously for weeks. I can't think of a better test of their limits in the last 20 years than that, and they were nowhere near their max.
Doug