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Tuesday, March 17, 2009

Overstretched Fed

In this crisis, the Fed expanded its power tremendously, engaging in various types of credit policies. It's like the US army ---in too many battles at the same time. The Fed had no choice.

Do you know what these acronyms stand for?

TALF
TSLF
MMIFF
PDCF
TAF
CPFF

If you don't know what they are, check it out here.


Here is a good discussion on the topic: