00:01
All right, so here we're talking about open market operations, which are basically things, sorry, which is basically things that the fed, the federal reserve does to control, regulate the supply of money.
00:28
So basically what they tried to do is adjust like reserves and banks to try to control interest rates, right? so, if we look at all our options here, b, c, d, let's see, implemented quickly and cheaply, that is definitely not true with most things, including the government.
00:58
Things are just not done very quickly or cheaply.
01:01
It does require selling and buying securities, right, bonds to try to control that reserve supply of money.
01:11
Quietly without a lot of political debate, definitely not true.
01:16
Everything and a bureaucracy requires debate and time.
01:23
And then, to control the money supply, yes.
01:29
Is it the most efficient tool? no.
01:31
It's usually really far behind the economy...