Not all of the Fed's money is created through debt.
Whenever the Fed buys anything on the "open market", it writes a check on itself to the seller, who then goes to a normal bank to cash/deposit it. That's newly created money without any debt behind it. When the Fed pays it's employees and buys whatever materials it needs for it's buildings, office supplies, and pays it's utilities, etc.
The Fed does create money without debt behind it.
Then when you consider that commercial banks have to pay for the same things the Fed does (employees, supplies, utilities, buildings, etc), it comes out of the interest that was earned by the bank, which then ends up right back in the economy to be traded again and again.
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