Bill Nelson on How Bank Examiner Preferences are Obstructing Monetary Policy
Macro Musings with David Beckworth
00:00
Is the Fed Trying to Shrink Reserve Balances?
Bill Nelson: During the last five years or so of my work at the Fed, I was wearing two hats. He says he learned that just as the FOMC was planning to shrink its portfolio, supervisors were telling banks they had to maintain their levels of reserve balances. "I spent a lot of time going between the various principles and those"
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