Lev Menand on *The Fed Unbound: Central Banking in a Time of Crisis*
Macro Musings with David Beckworth
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Money Market Funds in the Seventies
Dogan, that yeu have shadow banking system. Here's the history. You've mentioned repos you mention the ureo dollar in the book. And i just want to add one little detail to that story. Money market funds were a solution for the retail person. Their checking accounts were losing value with high inflation. So again, disconnecting all the dot seriesa had to fed kept inflation in check. Or had we not had that, inflation, would they have been as prominent or as popular as they are now?
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