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6min chapter
Liquidity Has Fallen Off A Cliff | Joseph Wang & Michael Howell
Forward Guidance
Federal Reserve Lending Against Collateral?
The federal reserve is a lender of last resort. Lend freely at high rates against good collateral. What does that mean when the federal reserve lends? So a, the federal reserve raising rates through the fet funds rate. That's notco lized, right? And then ce is just your ct is just buying or selling. It's not lending. The concept of loquility governs what you can buy and sell in markets.
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