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In pursuit of anti-inflation policy in the 1990s, the Open Market Committee of the Federal Reserve decided to sell government securities. The Fed sold $100,000
In pursuit of anti-inflation policy in the 1990s, the Open Market Committee of the Federal Reserve decided to sell government securities. The Fed sold $100,000 of government securities; the noncommercial-bank public purchased them, making payment by checks that were cleared through the Fed. Show the immediate changes in the balance sheets of each group involved: the Fed, the commercial banks, and the public
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