How would it do that? It is just a coin held at the Federal Reserve to make the debt not go over the "limit". It is just a magic trick on the ledger. It doesn't change the amount of money in circulation as the coin is never spent.

I don't understand how it would change anything about prices. The Federal Reserve already sets the interest rates indpendent of the deficit. Congress already has the ability to adjust the budget and pass laws to change spending, or increase/reduce taxes. The CBO already gives Congress estimates for every law and it's effect on the deficit.