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Tag Archives: RESBALREQW

Monetary policy tools today: Paying interest on all those reserves

[embedded content] As the school year winds down, the FRED Blog offers some advice to new graduates: Learning about monetary policy is a lifelong endeavor, because its tools can change even if your textbook doesn’t. (See our “textbook lag” posts, part I and part II.) One way monetary policy tools have changed is that, effective March 26, the Board of Governors of the Federal Reserve System reduced reserve requirement ratios to zero percent: In response to the COVID-19 pandemic, the...

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