Joshua Younger on the Treasury Market: Structure, Stressors, and Potential Reforms
Macro Musings with David Beckworth
00:00
The Fed Needs to Drop the Federal Funds Rate
The fed needs to drop the federal funds rate as its target and have that repo rate as a target for monetary policy. And it also sounds like what your suggesting is that the standing repo facility would work best if we also had another reform put in place. That is tweaking the supplemental leverage ratio so that reserves are removed from the denominator, maybe even treasuries. But that sounds to me like a better mixed right, their having both f those in place.
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