Bill Nelson on the Future of Central Bank Operating Systems
Macro Musings with David Beckworth
Navigating Federal Reserve Operations
This chapter explores the operational frameworks of the Federal Reserve, contrasting the floor and corridor systems and their implications for liquidity management. It highlights the challenges of balancing bank reserves, interbank lending, and the effectiveness of market solutions versus government interventions. The discussion also underscores the importance of adaptability within the Fed's balance sheet management, especially in responding to diverse market conditions.
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