Transcripts of the monetary policymaking body of the Federal Reserve from 2002–2008.

But we could accelerate that process by raising the minimum rate at which we would lend and so make it a higher spread above LIBOR. If we are going to do it through an auction—there are still some questions about how to allocate the credit within this program—and if there is a minimum rate at which we would make funds available in the auction (that would be the spread over LIBOR) and we adjust that spread upward, we’re giving them more of a push to go back to relying on market financing.

Keyboard shortcuts

j previous speech k next speech