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This exercise utilizes two balance sheets, one for the Federal Reserve and one for BHZ Bank, a representative member of the banking system. Given

This exercise utilizes two balance sheets, one for the Federal Reserve and one for BHZ Bank, a representative member of the banking system. Given the following balance sheet showing the Fed's initial position, suppose the Federal Reserve wants to lower bank reserves by $200 million by transacting with BHZ Bank, using traditional open market operations. TUE rennnar nrernu n

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