The view from the Fed’s discount window
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Banks borrowed less from the Federal Reserve’s emergency lending programs this week than the week before, a sign that the threat of additional bank runs could be waning. One of those programs is called the discount window, and banks really try to avoid it. We explain why. Plus, a big change in the oil world, and an exploration of the welfare-to-work industrial complex from the latest season of Marketplace’s “The Uncertain Hour.”
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