¶ … Federal Open Market Committee discussed several important issues during their meeting of September 17th and 18th of this year. Naturally, the issue of the economy and specific items related to the national financial situation were of primary importance for all present.
One of the topics was the current economic situation and the federal debt, as well as any new developments which have been made toward the bettering of national circumstances. In the last few months, the committee has begun work to establish a "fixed-rate, full-allotment overnight reverse repurchase agreement (RRP) facility" (Minutes 2). Many benefits were attributed to the construction of such a facility including the ability to manage interest rates and support the idea of a floor to determine rates. During the September meeting, the research into this facility was further explored and it was ultimately determined that additional research must be done before going ahead with the project.
Projections were made about…
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