An economist who often embarasses Chicago published this today.
"The Federal Reserve and especially its regional bank in New York are actively engaged in buying and selling Treasury securities, and the Fed lends money to banks on an overnight basis, at an interest rate called the federal funds rate." Dr. Mulligan can be excused a slip now and then. But when he dips into errors more serious one wonders what the students call him. Gene _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
