40 sats \ 2 replies \ @Bell_curve 21 Aug \ parent \ on: Donald Trump Does Not Know the "Correct" Interest Rate econ
I forgot Libor disappeared and was replaced by:
https://www.investopedia.com/secured-overnight-financing-rate-sofr-4683954
SOFR is based on transactions in the Treasury repurchase market and is preferable to LIBOR since it is based on data from observable transactions rather than estimated future borrowing rates.
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21 sats \ 1 reply \ @Undisciplined OP 21 Aug
Wasn't there some scandal surrounding Libor back during the Great Recession?
I suppose I could look it up, but I probably won't.
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0 sats \ 0 replies \ @Bell_curve 22 Aug
2007 and 2008 and 2022 IIRC
Libor is 'scandalous' because sometimes their rates differ from the Federal Funds rate.
edit: https://www.investopedia.com/terms/l/libor.asp#toc-libor-rate-rigging-scandal
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