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Liquidity Has Fallen Off A Cliff | Joseph Wang & Michael Howell
Forward Guidance
The Fed Cannot Stimulate Bank Lending
The fed has essentially complete control over the reserves, which they can control with the wave of their magic ke wands. The commercial banking system is extremely important for inflation. It's a new tool kit for the fed to be so that they can do things like this. We're not there yet, overstod bont technology. But it seems we might eventually drift towards the world where the fed could solve the problems. So ye yo, going to make sure you have to be friends with the politicians.
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