Julie Hill on the History and Recent Developments of Fed Master Accounts
Macro Musings with David Beckworth
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The Board of Governors or the Regional Bank?
Who actually makes the final decision? Is it the regional bank or does the Board of Governors weigh in? It's unclear, right? I think that the Fed sometimes likes to push the decision off to the reserve banks. Sometimes they like to have this illusion that the reserve banks are deciding themselves exercising their own discretion.
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