The Fed presumably has an “implied guaranty” from the Treasury, but it seems certain that Congress never dreamed that the Fed could experience the losses and the negative capital that are now reality.
The Fed presumably has an “implied guaranty” from the Treasury, but it seems certain that Congress never dreamed that the Fed could experience the losses and the negative capital that are now reality.
Murray Rothbard wrote that egalitarianism is a
Mainstream economists today examine economic phenomena from
