In the market (supply and demand) for reserves, what interest rate serves as a ceiling for the fed funds rate? the discount rate the rate paid on reserves on deposit at the FED the treasury bill rate the treasury bond rate QUESTION 10 Increasing non-borrowed reserves by buying bonds in OMO causes what effect in the demand and supply of reserves? demand to shift to the right supply to shift to the right demand to shift to the left supply to shift to the left