Hilton, Spence (contributor); Hrung, Warren B. (contributor) - 2007
Market Desk (the Desk) of the Federal Reserve Bank of New York (FRBNY)
is directed by the Federal Open Market Committee … (FOMC) to use open market
operations—transactions between the Desk and securities dealers for the purchase or sale
of … reserve supply, open market operations will be used to close the gap.
Ceteris paribus, a higher (lower) supply of reserves …