Steven Kelly on Crises, Stability, and the Fed’s Role in Financial Markets
Macro Musings with David Beckworth
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Is the Fed a Better Federal Reserve?
i think there's a place here for another federal agency that could take the role of doing credit during a crisis. i understand the concern that is the fed becoming a bigger and bigger footprint in the financial system an economy. But i think you're making the point. You can delineate those two issues, or are they conflated? I think it's two things. One is, you know, what's a true emergency? And do the legal authorities really bind the fed to not be two interventionists? The other thing is, we need to think hard about the shape of our financial system.
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