As more and more people have taken an interest in monetary affairs—especially in the Fed and its various operations—in recent years, many people have joined the discussions related to these matters, especially on the World Wide Web. In reading these posts over the years, in particular in reading the comments on a post I placed...
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Tag: high-powered money
Robert Higgs | Sunday June 26, 2011 at 4:01 PM PDT
Robert Higgs | Thursday June 23, 2011 at 1:49 PM PDT
Since late December 2008, the bank prime lending rate—the interest rate banks charge their best corporate customers—has remained steady at 3.25 percent. Meanwhile, during the same period, the excess reserves that commercial banks hold at the Fed have increased from $2 billion in August 2008 to $1,513 billion in May 2011. Ordinarily, one would have expected...
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