Julie Hill on the History and Recent Developments of Fed Master Accounts
Macro Musings with David Beckworth
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The Federal Reserve and Fedmaster Accounts - May vs. Shell?
This was the first time that in the modern era, at least that a court had squarely considered issues surrounding master accounts. The other thing that's interesting is the Fed put a lot of heavy lifting on the word may. In the Federal Reserve Act, it says May and it's the monetary control act that has shell. What does it all mean? Yeah.
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