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Liquidity Has Fallen Off A Cliff | Joseph Wang & Michael Howell
Forward Guidance
Is the Federal Reserve a Lender to Last Resort?
The federal reserve is basically turning the dial here. It's because of bas three regulations, factors that which had constrained banks in terms of their ability to lend. The fede doesn't actually have the inferstructure to directly give money to people individually so they have to work the banking system. And now were seem to be moving towards a world where the fed maybe be able to suggest the banks that they have to do certain kinds of lending.
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