Fed eases sharply after the crash
Citations (1)
- Lords of Finance whole source · open book
Between November 1929 and June 1930 the Fed eased monetary policy dramatically. It injected close to $500 million in cash into the banking system and cut rates from 6.0 percent to 2.5 percent—mostly the work of Harrison in New York.
chapter: 17. PURGING THE ROTTENNESS - 1929-30