Steven Kelly on Crises, Stability, and the Fed’s Role in Financial Markets
Macro Musings with David Beckworth
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Post Crisis, What Is the Federal Reserve Act?
The federal reserve act allows the fed to respond in crisis. The big ones were, can no longer do this for an individual. Via 13 three, it has to be what they call broad based facility. And so the fet has defined this as available to five borrowers. So maybe, in theory, they could open a maiden lane and allow five people to use it, and only berdvides the number.
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