== About the title Economic career == 

 Who wrote that text? That quote is really silly, it's completely stupid, here's a comment to it: 

 If the Federal Reserve System tries to inject money into the private sector, the private sector will simply turn around and exchange its money for Treasury bills at the next auction. 
  No, idiot, the fed decides exactly how much M0 should be and how big the repo position with it's authorized dealers (with accounts at the central bank) will be. It can set the interest rate to zero by buying interest rate notes, or very high by continuously selling treasury bills or even it's own equivalent notes (if it should run out of treasury paper) in infinite amount. 

 If the Federal Reserve withdraws money, the private sector will allow some of its Treasury bills to mature without replacing them.  What does that mean? If interest rates rise people will hold less of its money in interest bearing accounts? Interest rates are not at the will of the private sector, it should be extremely simple to understand that the fed has the monopoly on issuing money and can decide exactly how much M0 should be. It could withdraw everything but a few dollars and that would make the interest rate extremely high, if it wanted to.