Question: How important was the lender of last resort function of the Federal Reserve
How important was the lender-of-last-resort function of the Federal Reserve in the financial crisis of 2007-2009? Beginning in 2000, plot the ratio of (in percent) of borrowing from the Fed (FRED code: DISCBORR) to its asset holdings (FRED code: WRESCRT). What happened to the borrowing ratio during the 2007-2009 financial crisis?
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