I was at the Fed last Friday giving a briefing for the staff about the effects of tax rebates, and happened to see my old colleague Ben Bernanke walking the halls. With a few quick steps I risked getting tasered and we said a quick hello. His life has been one long sprint for at least two years now. Thursday’s market chaos was being reviewed, and following stresses to the market for dollars in Europe in particular stemming from the Greek debt crisis, the Fed has re-opened swap lines with foreign central banks (release here).
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