Bill Nelson on How Bank Examiner Preferences are Obstructing Monetary Policy
Macro Musings with David Beckworth
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How to Change the Mindset of Examiners and the Public
There was a big change after the financial crisis 2008. The Fed's current plan is to keep shrinking its balance sheet until it gets to about $300 billion above the structural demand for reserves that banks have. But unfortunately, that plan means that reserves will remain super abundant. And all of these things will maintain the stigma associated with using any kind of credit from the Fed.
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