“Is the Federal Reserve owned by a European banking cabal?” “How much ownership of the Federal Reserve do the Rockefellers hold?” But over the past few days, the questions have become truly outrageous: “Will the regional and community bank model survive in the future?” Are community banks important?
This was done with quite limited loss of real output, partly because of the stimulation to the tradables sector imparted during 2002 by the over depreciated exchange value of the rand, and partly because policymakers deliberately refrained from raising interest rates excessively, mindful of the lags characteristic of the transmission of monetary policy to the economy.