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Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383

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BuyFindarrow_forward

Economics (MindTap Course List)

13th Edition
Roger A. Arnold
ISBN: 9781337617383
Textbook Problem

What does it mean to say that the Fed serves as the lender of last resort?

To determine

The lender of last resort.

Explanation

The Fed acts a lender of last resort to other banks, as it is supports the banks which face a liquidity crisis or lack of cash in hand...

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