Fed's Subsidized Lending
In the 1960s, the Fed faced pressure to not tighten monetary policy during the Great Society and Vietnam War. They maintained a constant discount rate while tightening reserve conditions, leading to a shift in lending rates above market rates to combat inflation concerns. Governor Lyle Gramleck initiated changes to align lending rates with market conditions.In this clip
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Odd Lots
Why Banks Are Suddenly Borrowing From the Fed's Discount Window
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