Y2K Was Really The Great Uncertainty

By |2017-07-19T18:15:24-04:00July 19th, 2017|Currencies, Economy, Federal Reserve/Monetary Policy, Markets|

In late 1999, the Federal Reserve established what was ostensibly an emergency credit facility. On October 1 that year, this offshoot of the Discount Window went live. Its main feature was that it was to be a primary program, meaning that banks didn’t have to prove they could access funds elsewhere first. They could go there freely without fear of [...]