The Federal Reserve makes an open market sale, and there is no immediate change in reserves. Therefore, the Fed

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When the Federal Reserve makes an open market sale to the public, the money received in exchange for the securities is withdrawn from the banking system, reducing the amount of reserves in the banks. However, if there is no immediate change in reserves, it implies that the sale was made to the public but the money used to purchase the securities was not initially deposited in the banks, thus not affecting the reserves immediately.

The Federal Reserve Makes an Open Market Sale, and There