Fed to Offer Every Household $1 Million from its New Discount Window
Imagine the impact of the Fed's new policy on the bottom 50% of American households, who currently own near-zero financial assets.
The Federal Reserve announced a new program today that offers every American household a $1 million loan from its new Household Discount Window at 2% interest. Before you start planning how to spend the $1 million, there's one catch: the $1 million can only be used to buy US Treasury bonds, notes and bills.
As disappointing as this restriction might be, …
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