On privacy ISSUES, it's just LIKE hundreds of years ago when people SAID, 'I would rather put my money under my PILLOW than in a bank.' But today, banks know how to PROTECT money much better than you do. Today, we may not have the answers to privacy issues, but I believe our young people will come up with the solutions.
Read MoreWe need to aim to GET RID of food banks altogether, and replace charitable INTERVENTION with a fairer, more equal SOCIETY.
Read MoreThe FEDERAL RESERVE ranks among the most transparent central BANKS. We publish a summary of our balance sheet EVERY week. Our financial statements are audited annually by an outside auditor and made public. Every security we hold is listed on the WEBSITE of the Federal Reserve Bank of New York.
Read MoreA higher IOER RATE encourages banks to raise the interest rates they charge, putting upward PRESSURE on market interest rates regardless of the level of reserves in the BANKING sector. While adjusting the IOER rate is an effective way to MOVE market interest rates when reserves are plentiful, federal funds have GENERALLY traded below this rate.
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