> On Tue, Jul 29, 2008 at 4:05 AM, Andrea wrote:
> In case you haven’t seen this yet: A Fed study that finds that
> Taf has lowered Libor.
right, thanks, as if they needed to fund a study to figure that out!
It’s like doing a study that shows the repo rate goes down when the fed lowers its ‘stop’ on repo.
(Too bad they didn’t use this study to show they should set a rate for the TAF and let quantity float, instead of setting a quantity and having an auction.)
It’s this kind of expense that gives govt. a govt. spending negative connotation.
all the best!