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Will Federal Reserve regional banks not be able to pay interest on reserves?

Abbreviated Question: 
Will Federal Reserve regional banks not be able to pay interest on reserves?
Answer: 

No, it's not possible; that is, the Federal Reserve can always pay IORB.  The reason is simple: unlike an ordinary bank, the Fed's liabilities are in units (dollars) that it creates.  Put differently, unlike a private business, the Fed does not need to pay its expenses by drawing on current revenues, retained earnings, or credit.

Is the Fed right in trying to dampen demand?

Abbreviated Question: 
Is the Fed right in trying to dampen demand?
Answer: 

Without a doubt, demand has outpaced supply over the past 18 months.  In labor markets, there are currently 4.9 million more jobs available than there are individuals looking for work (i.e., comparing job openings from the JOLTS release to the number of unemployed workers in the Employment Situation Report), resulting in wage growth that is higher than a level consistent with 2% price inflation.  The questioner points out a similar dynamic in product markets: empty shelves and fast-rising prices are evidence of demand outpacing supply.  While determining the contributions of

Is the Fed's Approach to Inflation Wrong?

Abbreviated Question: 
Is the Fed's Approach to Inflation Wrong?
Answer: 

Without a doubt, demand has outpaced supply over the past 18 months.  In labor markets, there are currently 4.9 million more jobs available than there are individuals looking for work (i.e., comparing job openings from the JOLTS release to the number of unemployed workers in the Employment Situation Report), resulting in wage growth that is higher than a level consistent with 2% price inflation.  The questioner points out a similar dynamic in product markets: empty shelves and fast-rising prices are evidence of demand outpacing supply.  While determining the contributions of