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The Lender of Last Resort (EP.300)

Animal Spirits Podcast

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Introduction

The two-year Treasury rate is basically a proxy for the federal funds rate. Just the crash we saw in the last, I don't know, 10 days or so, that looks like the stock market crash almost,. How quickly that happened? It seems like that's not supposed to happen for rates. We're going to talk more about the two-year and some other stuff this Thursday.

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