Sam Schulhofer-Wohl on Reforms in the Treasury Market and Developments with Central Bank Operating Systems
Macro Musings with David Beckworth
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Monetary Policy and Bank Reserves
This chapter explores the role of central banks in implementing monetary policy through bank reserves and government securities. It discusses the implications of reserve management, the importance of interest on reserves, and the strategies employed by various central banks to influence market interest rates. The conversation emphasizes the challenges of managing reserve levels and their impact on financial stability and market functioning.
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