Complete agreement. Good explanation.
RT @ProfStefanNagel: I am baffled by the Federal Reserve's new Bank Term Funding Program. The Fed is lending against par value. This means the Fed is getting into the business of (partly) unsecured lending. Is there a precedent for this? (1/n)
🐦🔗: https://n.respublicae.eu/lugaricano/status/1635422000733888513