Bloomberg/Narayana Kocherlakota/9-25-2019
“The recent unrest in money markets, which briefly caused short-term interest rates to get out of the Federal Reserve’s control, won’t undermine the central bank’s ability to achieve its longer-term economic goals. That said, it does signal that something’s very wrong with the financial system.”
USAGOLD note: The former president of the Federal Reserve Bank of Minneapolis breaks down the repo problem in straightforward terms and issues a practical warning to policy makers about what might lie ahead.
Source: USA gold
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