Question
In a recent meeting (January 16, 2020) of the Federal Open Market Committee (FOMC), the Federal Reserve eliminated the reserve requirement on deposits and other
In a recent meeting (January 16, 2020) of the Federal Open Market Committee (FOMC), the Federal Reserve eliminated the reserve requirement on deposits and other reserve items at banks and other depository institutions up to $16.9 million and reduced the reserve ratio to 3% on amounts $16.9 to $127.5 million.What is the impact of the Fed's action (above) on the economy?
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Financial Accounting and Reporting
Authors: Barry Elliott, Jamie Elliott
14th Edition
978-0273744535, 273744445, 273744534, 978-0273744443
