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After the Accord from Part V - The End of Bills Preferably
Published online by Cambridge University Press: 14 January 2021
Describes the postwar revival of the international gold market, the drain of Treasury gold reserves at the end of the 1950s, the place of gold in FOMC deliberations, and the conflict between keeping Treasury yields high enough to preserve the attraction of Treasury securities for foreign central banks and low enough to promote growth of the domestic economy.
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