NY Fed report warns discount window stigma may never go away
By Michael S. Derby (Reuters) – The Federal Reserve needs to rethink how it provides swift liquidity to banks, a report from the Federal Reserve Bank of New York said on Monday. That’s because despite many years of trying to reform the discount window, the long-standing stigma around this facility “has clearly become deeply engrained among practitioners and it may be impossible to change that norm,” wrote economists Olivier Armantier and Charles Holt. “Even extreme … Read more…