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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
References: