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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: LLCF who wrote (89760)4/4/2001 10:53:43 AM
From: Ilaine  Read Replies (1) of 436258
 
The major weapon the Fed uses to affect the money supply isn't interest rates, it's open market operations. They also raise or lower reserve requirements, and they also engage in foreign exchange.

LOL about Galbraith. If you want to know what the Fed did, and why, they have records of all their actions, including the reasons, in their archives. The Federal Reserve itself now admits that interest rate cuts lagged the contraction in money, credit and prices. Further, it admits that it did nothing to offset the reduction in currency caused by bank runs.
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