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interest on required reserves

interest on reserves, interest on excess reserves, Federal Reserve, operating framework, monetary policy, selgin
Money & Politics, News, The Fed & Central Banks

FLOORED!

George Selgin/March 2, 2018June 19, 2022

If you've spent much time at all on these pages, you know that my favorite hobby-horse for several years now has been the Federal Reserve's policy of paying interest on (banks') excess reserves (IOER) at an above-market rate. By adopting that policy in October 2008, the Fed…

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