Read Floored!: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession - George Selgin | PDF Online

Read Floored!: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession - George Selgin | ePub

In October 2008, as the U.S. economy plunged, the Federal Reserve began paying interest on banks’ reserve balances. The resulting switch to a “floor system” of monetary control, in which changes in the interest rate on reserves, rather than reserve creation or destruction, became the Fed’s chief tool for influencing economic activity, was to have far-reaching consequences—

Title : Floored!: How a Misguided Fed Experiment Deepened and Prolonged the Great Recession
Author : George Selgin
Language : en
Rating :
4.90 out of 5 stars
Type : PDF, ePub, Kindle
Uploaded : Apr 10, 2021

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