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How Does the Fed Influence Interest Rates Using Its New Tools?

Jane E. Ihrig and Scott Wolla
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Jane E. Ihrig: https://www.federalreserve.gov/econres/jane-e-ihrig.htm

Open Vault from Federal Reserve Bank of St. Louis

Abstract: Post-financial crisis, interest on reserves became the primary tool for adjusting the fed funds rate. And the ON RRP rate is now a supplementary tool that acts as a 'floor.'

Date: 2020-08-05
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