Don Curren 🇨🇦🇺🇦Dec 24
“This gradual #missioncreep has blurred the line between routine #liquidity support and support for #insolventinstitutions, undermining the very purpose of #central-bank independence.” #Fed www.project-syndicate.org/commentary/f...

How the Fed Became a Lender of...
How the Fed Became a Lender of Immediate Resort

Amit Seru argues that overuse of emergency measures has weakened accountability and distorted incentives.

Project Syndicate