Question: In which market does the Fed typically conduct its open market oper- ation? Why is this the optimal market? What are primary dealers and


In which market does the Fed typically conduct its open market oper- 

In which market does the Fed typically conduct its open market oper- ation? Why is this the optimal market? What are primary dealers and how do they help make open market operations more efficient? Why do financial markets still need the Fed's lender-of-last-resort func- tion when we have the FDIC?

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