lopp on Nostr: The Federal Open Market Committee is neither Federal nor an open market. In fact, the ...
The Federal Open Market Committee is neither Federal nor an open market. In fact, the Federal Reserve banks used to conduct more open market activity BEFORE the creation of the FOMC.
That is to say, different Federal Reserve banks would bid against each other in the open market. But after a while they decided that they'd rather not do that, so they formed the FOMC.
The FOMC is a cartel.
That is to say, different Federal Reserve banks would bid against each other in the open market. But after a while they decided that they'd rather not do that, so they formed the FOMC.
The FOMC is a cartel.