The Fed’s Working Framework: How Can It Work and exactly how Does It Change?

The Fed’s Working Framework: How Can It Work and exactly how Does It Change? Figure 1 shows the way the Fed’s flooring system worked during, whenever IOER had been set at 0.50 per cent, while the ON-RRP price had been 0.25 per cent. There clearly was significant take-up into the ON-RRP market each day (though …

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