By November 1929, the New York Fed had increased its discounts for member b...
Citations (1)
- All the Presidents' Bankers: The Hidden Alliances That Drive American Power whole source · open book
By November 1929, the New York Fed had increased its discounts for member banks by $150 million and purchased $150 million of government securities in the open market to further reduce rates.23 It remained selective in deciding who to help more explicitly. Relationships and positioning mattered.
chapter: Chapter 5: 1929: The Room at 23 Wall, Crash, and Big-Six Take