MW: What’s really at stake as the Federal Reserve unwinds its balance sheet

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By LoadstarEditorial

20/03/2019

MarketWatch’s Ivan Martchev writes: “I had one of the strangest conversations with a wealthy investor this month regarding the Federal Reserve. He tried to convince me that the Fed does not know what it is doing by paying interest on excess reserves. When it pays interest on excess reserves, he said, it causes banks to hoard cash and not lend…”

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