Reserve Requirements as a Tool for a Fed Exit Strategy
At the March 23 Federal Reserve Board conference (Conference on Central Banking: Before, During and After the Crisis), three prominent central bankers – Jean-Claude Trichet (former head of the ECB), Masaaki Shirakawa (governor of the Bank of Japan) and Jaime Caruana (BIS) – argued that policy makers needed to be aware of the unintended consequences [...]
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