[Moonman62]

I was thinking of this interview that Judy Shelton did with CNBC.

https://www.cnbc.com/video/2019/05/22/judy-shelton-free-market-mechanisms-can-work.html?__source=sharebar%7Ctwitter&par=sharebar

She mentions the Federal Reserve is paying interest rates on excess reserves as part of a system they created back in 2008.

[Toddsterpatriot]

She mentions the Federal Reserve is paying interest rates on excess reserves

They pay interest on all reserves, not just the excess.

And by definition, reserves do nothing.