AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
2min chapter
A Masterclass In Central Banking | Professor Jane Knodell
Forward Guidance
The New Plumbing of the Federal Reserve
There's nothing in the Federal Reserve Act about like lender of last resort. The idea was though that the panics up to then made, mainly happened in the fall when there was a big demand for currency. And now, you know, banks say, oh, I've got a half a trillion dollars of reserves with the thing and there's the reverse repo facility. But back then, I think a lot of it was still backed by gold.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode