The Federal Reserve - frustrated by its inability to consistently accomplish strong growth and 2 percent inflation - is reviewing strategies. Maybe it should simply hand out money to ordinary folks, helicopter money, instead of just to banks.
Historically, when the economy slowed, the Fed pushed down the rate banks pay each other for overnight loans and that rippled through to rates for short-term lines of credit, 10- and 30-year Treasury securities, corporate bonds and home mortgages.