I used to get some silent amusement when I was in Washington as a correspondent on hearing distinguished incoming colleagues from Europe tell me grandly how their editor back home had told them to avoid getting bogged down by day-to-day news coverage and take a longer view about what was g...
The Primary Dealers facilitate the transaction, they are not a party to the transaction. 3c) Banks receive bank reserves in exchange for UST securities, actual Federal Reserve Notes are rarely used. 3d) One might imagine OMO as the FRB offering to individuals who own a Certificate of ...