What are the two most important assets and the two most important liabilities on the Feds balance

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What are the two most important assets and the two most important liabilities on the Fed’s balance sheet? Because currency is valuable, why is it a liability to the Fed rather than an asset?

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Money, Banking, and the Financial System

ISBN: 978-0134524061

3rd edition

Authors: R. Glenn Hubbard, Anthony Patrick O'Brien

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