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Chasing Commas (guest: Joseph Wang)

The Market Huddle

CHAPTER

The Fed's Balance Shets Is Quite Small

In the eighties there was a unlike away around the reserve constraints. And so in practice, all these regulations that were aimed at controlling a,. let's say the quantity of re was were not that effective. It was really much more effective later on to just control prices, control interest rates. Why don't you explain how that worked and how that changed a central banking forever?

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