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Has the Discount Window Mystery been Solved?
“We won’t know for another twelve or fourteen months whether Silicon Valley Bank (or any of the other banks being thrown overboard today) were the ones borrowing at the Fed’s discount window. But it is increasingly likely that whatever firm(s) it was, exigency was the driver.” ~ Peter C. EarleREAD MORE
The Fed Isn’t Powerless
“Responsible students of monetary policy must vigorously resist the ‘powerless Fed’ myth. All it does is absolve central bankers of responsibility for what, on the basis of good theory and mounting evidence, is primarily their fault to begin with.” ~ Alexander William SalterREAD MORE
Delivering on the Promise of Platforms
“The mistake of outsiders was to see Amazon as a bookseller; since books were a dying business (not true, actually), having a web site to sell books had limited upside at best, even if Amazon could survive against the market power of Barnes and Noble and the other bookstore behemoths.” ~ Michael C. MungerREAD MORE
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