Daniela Gabor on Financial Globalization, Capital Controls, and the Critical Macrofinance Framework
Macro Musings with David Beckworth
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Do You Think Donald Trump Might Get Involved in This?
Liktely: There's all kinds of room for mischief in and problems with something as powerful as these dollar swap ones the foderal reserve has. The fact that the federal reserve was prepared o at least offer aarip o facility for countries who havea portrfolio of us Treasuries to be able to borrow from official financing lines suggests that there there has been a hierarchy of official access. It's a differentiated accesson and some are more privileged than others, for sure. Yes. But in a sense, it's very clear, in some ways, that the fed didn't have a choice not to back stop the european financial system because it's so deeply
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