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Re: The Limits To Growth



Followup-To: line reduced, but probably not enough.

In article <32B5A309.24AB@bionomics.org>,
Max Jacobs  <mjacobs@bionomics.org> wrote:
...
>No, actually it doesnt control that either.  The fed only controls the
>federal funds rate which is what it charges banks for money.  The market
>then sets interest rates accordingly.  The only reason you are seeing a
...
Yoohoo! Max! That's not what the Federal Funds Rate is. That's the 
discount rate, and its use is discouraged by the Fed. And the Fed does 
control things besides the discount rate, like reserve requirements and 
broker rates. More importantly, it engages open market operations. 

>
>Max

Paul Farrar


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