Maybe I'm reading this wrong...but doesn't it look like it was misleading to imply this was a 'pure subsidy'?
In fact, most of those rates are above .50% (though some are well below).
http://www.federalreserve.gov/monetarypolicy/files/Single_Tranche_Term_RPs.xls
In fact, most of those rates are above .50% (though some are well below).
http://www.federalreserve.gov/monetarypolicy/files/Single_Tranche_Term_RPs.xls
