Class 4.pdf - The Federal Reserve U.S Treasury and...

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1 The Federal Reserve, U.S. Treasury, and Government Security Markets Finance 515/415
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2 The Federal Reserve System (Fed) influences fixed-income security markets through its implementation of monetary policy. The U.S. Treasury influences fixed-income securities markets through its issuance of Treasury bills, notes, and bonds that finance U.S. fiscal policy. Let us then examine: The Structure of the Federal Reserve System Monetary Policy and Open Market Operations The Federal Funds Market Other Federal Reserve Lending Facilities Primary and Secondary Markets for Treasury Securities Repurchase Agreements The Federal Government and Fixed-Income Securities
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