Yeah whatever ability the fed had to affect inflation certainly went to hell when they switched to the excess reserves regime. Now doing literally anything causes risks in the banking sector. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3545546
Yeah whatever ability the fed had to affect inflation certainly went to hell when they switched to the excess reserves regime. Now doing literally anything causes risks in the banking sector. https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3545546