Macro Lit Review 4: Highlights from Mid-2023 with George Selgin
Macro Musings with David Beckworth
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The Choice to Deal With TCH
Big banks own the clearing house. The small banks and financial firms wanted something other than RTP because they were worried about the big banks. TCH then said, well, we may not be able to stick to our commitment to the small banks. They feared with reason that the Fed will end up offering big bank volume discounts.
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