The Fed has sought to stimulate the economy by purchasing large quantities of long-term Treasury securities. The campaign, which is scheduled to end in October, aims to force investors to buy other kinds of debt and, in the face of increased competition, to accept lower interest rates from the borrowers.During the same period, the Treasury has greatly increased its issuance of long-term debt. Mary John Miller, until recently the Treasury official responsible for debt issuance, said the average duration of government debt, historically about 58 months, fell to 48 months during the crisis and has risen to 68 months.Mr. Summers and his co-authors calculate that the Fed’s campaign reduced long-term rates by 1.37 percentage points, but that the Treasury’s debt policies put back 0.48 of those points.
Blogs I Follow
- I guess Trump team is consistent about one thing: They really would rather have coal than advanced 21st century batteries
- Great trenchant essay on reading from Hisham Matar
- Can students record me in class?
- Awe-inspiring study from Ancestry.com
- Leading a non-profit that supports village libraries is a lot of work!
- Great article about one of the FAVL donors who helped make a library happen in Burkina Faso
- AYA Afrika Foundation helps continue after school reading program in libraries in Ghana
- New motor bike for FAVL/CESRUD Ghana
- Visite guidée à la bibliothèque communautaire de Dablo
- Les usagers illettrés à la Bibliothèque de Dimikuy
- La mairie de Pensa prend ses responsabilités
- What is going on in FAVL Burkina Faso?
- Les bibliothécaires en séance pratique d'origami
- Le coordonnateur national à la rencontre du staff régional
- FAVL/CESRUD Ghana libraries expand their reach to surrounding schools
- Rapport du mois de janvier et février 2017 de la bibliothèque de Sebba
- Rapports des activités du mois de Janvier et Février 2017 de la bibliothèque de Bougounam
- Visite d'un ancien lecteur au bureau de FAVL Ouaga
- Rencontre FAVL et les autorités de Sabcé
- Encadrement du bibliothécaire de Pissila