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An article about the Federal Reserve paying interest on bank reserves.
Money Quote: “It’s incredibly important that they have this tool,” said Michael Feroli, an economist with J.P. Morgan Chase.
It gives policy makers the breathing room to sell off their
considerable store of assets at more leisurely pace, he explained."
Translation: “It’s incredibly important that they have this tool,... It
JP Morgan Chase and other bankers to get unlimited money from
the Federal Reserve which they own and control at no risk to the
bankers and without interference from or the consent of the government