There’s No Money In Monetary Policy, But There Are Feelings

By |2015-03-24T15:50:20-04:00March 24th, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

Every other central bank in the world has at some point shifted their monetary policy framework to the world of secured short-term funding rather than unsecured. That shows the primacy of repo as opposed to what has been used almost exclusively in the US (and related eurodollars). The Federal Reserve has discussed letting go of the federal funds target before, [...]