The Fed’s Fight for Control of Its Key Interest Rate ...
Because it’s the basis for everything from credit card and auto loan rates to certificate of deposit yields, officials use a range of policy tools to exert control over it and thereby influence the direction of the broader economy. 3. How does that work? Differently than it traditionally did. Before 2008, the Fed used a playbook based on the fact that those reserves were in short supply. If ... ................
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