Lacker pans Fed for risky "fiscal" action
The monetary liabilities of the Federal Reserve banks have more than doubled since 11 September 2008, from about $840 billion to $1.7 trillion for the week ending 31 December. A surge in the amount of deposits that banks hold at the regional Feds, which soared from $8 billion to $848 billion over the period to the end of 2008, accounted for the expansion. Deposits have shot
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