Monetary Policy with Abundant Liquidity: A New Operating Framework for the Fed
Monetary Policy with Abundant Liquidity: A New Operating Framework for the Fed by Joseph E. Gagnon, Peterson Institute for International Economics and Brian Sack, D. E. Shaw Group “The amount of assets held by the Federal Reserve has dramatically increased since 2009. It recently crossed $4 trillion and will likely peak at about $4.5 trillion. This increase …