Taylor, John B. (contributor); Williams, John C. (contributor) - 2008
, the sharp increase in these spreads raised the cost of borrowing and interfered with monetary policy. The widening spreads … and find no empirical evidence that the TAF has reduced spreads. The results have implications for monetary policy and … interfered with monetary policy. The
widening spreads became a major focus of the Federal Reserve, which took several
actions …