By Bilal Hafeez 13-05-2019

Perspectives on U.S. Monetary Policy Tools and Instruments


“ The fed funds rate today is essentially an administered rate that is heavily influenced by regulatory arbitrage and divorced from its traditional role as a signal of liquidity in the banking system. The size of the Fed’s balance sheet is at best a very blunt instrument for influencing interest rates.”

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Perspectives on U.S. Monetary Policy Tools and Instruments