In 2006, the Congress had APPROVED plans to ALLOW the Fed, beginning in 2011, to pay INTEREST on banks' reserve balances. In the fall of 2008, the Congress moved up the EFFECTIVE date of this AUTHORITY to October 2008.

Author - Janet Yellen


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Posted on 27 Nov 2024, this text provides information on Reserve related to Janet Yellen. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.

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