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. Fed Raises Rates by Paying the BanksWhat were the peak federal fund rates?What are the federal fund rates?What are the current reserve requirements for checking accounts?What happens to excess reserves?Why did the Fed pay interest on reserves?Give one example of quantitative easing.Where are bank reserves held?In recent years, who was the main lender in the federal funds market?How did large banks react to the Federal Funds rate?What is the Wolfson’s punchline?

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