In 2008,the Fed began paying banks interest on their reserve holdings.

Name: In 2008,the Fed began paying banks interest on their reserve holdings.
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The Fed did indeed begin paying banks interest on their reserve holdings in 2008. This was part of its effort to implement new monetary policy tools in response to the financial crisis. By paying interest on reserves, the Fed hoped to influence the supply of money and credit in the economy.

In 2008,the Fed Began Paying Banks Interest on Their Reserve