How Did The Fed Funds Market Change When Excess Reserves Were Abundant?
from the New York Fed
– this post authored by John P. McGowan and Ed Nosal
The Federal Open Market Committee (FOMC) uses the federal funds rate as its policy rate to convey the stance of monetary policy and has done so for decades. Nominal changes in the rate are expected to be transmitted broadly to other financial markets to have the desired effect on overall employment and inflation expectations in the United States.
Source: http://econintersect.com/pages/contributors/contributor.php?post=202001120548
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