For Most of the Fed's History, the Fed: 

question 45

Multiple Choice

 For most of the Fed's history, the Fed: ?

• A) lent reserves at an interest rate below the target federal funds rate.?
• B) found banks would borrow from the Fed far more often than they would borrow in the federal funds market.?
• C) was very lenient in making discount loans.?
• D) tied the discount rate to the rate on Treasury securities.

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