“‘Bond markets and foreign exchange markets won’t let us’ is a pretty terrible way to build a case against a political and economic program to save the planet,” she tweeted.
“There is no left and right here. There is only magical thinking with regular folks paying the price when the spell breaks,” Betsey Stevenson, who was on the staff of the CEA during the Obama administration, said of MMT on Twitter.
“MMT didn’t deregulate the banks. MMT didn’t bail out Wall St and let millions lose their homes. MMT didn’t push a too-small stimulus over price tag fears,” Kelton responded. [Source]
So, Stephanie has it over her New Keynesian detractors, but she's missing stating the fact that 90% of their arguments would disappear if the US would simply issue the money without issuing bonds (that is, without borrowing).
Yes, the Fed returns a great deal of the bond "profits" to the US Treasury, but that's not good enough. We can, and should, simply issue the currency without increase the national debt and without having to pay any interest to anyone.