George Selgin argues the Fed’s main policy lever since the financial crisis has been the interest rate paid on bank reserves, not the size of its balance sheet. He says skepticism of the Fed is justified, including over its role in post-COVID inflation.
published
George Selgin argues the Fed’s main policy lever since the financial crisis has been the interest rate paid on bank reserves, not the size of its balance sheet. He says skepticism of the Fed is justified, including over its role in post-COVID inflation.
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