Aug

17

One can challenge the usefulness and efficiency of the Fed when it tries to steer the economy, but it is definitely a very useful institution when credit is too scarce. The role of a lender of last resort in nicely explained in the 19th century book, Lombard Street: A Description of the Money Market.


Comments

WordPress database error: [Table './dailyspeculations_com_@002d_dailywordpress/wp_comments' is marked as crashed and last (automatic?) repair failed]
SELECT * FROM wp_comments WHERE comment_post_ID = '2082' AND comment_approved = '1' ORDER BY comment_date

Name

Email

Website

Speak your mind

Archives

Resources & Links

Search