Indexology®: Fed’s Playing “Whac-A-Risk”
February 24, 2015 at 06:30 AM EST
Thanks to better risk controls from banks, the historical credit process is no longer directly related to what the central bank does. For example, if the Federal Reserve buys a trillion dollars’ worth of U.S. government bonds, it doesn’t mean that U.S. banks are going to lend any more money. They...