美联储-中央银行储备的供需故事(英)-2026
聚焦美联储-中央银行储备的供需故事(英)-2026。segment highlights distributional frictions in the federal funds market that emerge well before aggregate reserves become scarce and provides new evidence on monetary policy transmission in an ample-reserves regime.In our analysis we calculate a semi-elasticity which we will refer to as “supply elasticity”, for simplicity.