Joshua Younger on the Treasury Market: Structure, Stressors, and Potential Reforms
Macro Musings with David Beckworth
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The Fed Wire Shut Down for a Period of Time.
This is not just banks. This is everybody. Mean, the standards that we apply to the banking system intend to be adopted by broader segments of the financial market and system more generally. Close money means something closer to literally the paper money in their wallet. So how close can i get to that? And that process broke down. We're considered functionally equivalent to short trom treasuries and reserves of the fed for a lot of reasons. But this was different in the sense h it was very accelerated. Everything about this pendemic has happened really quickly. It's excidental growth, again, that people are just really bad at intuition, or a expedental growth.
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