Question: We talked at length about why the Fed wanted so desperately wanted the authority to pay interest on reserves. Write an essay explaining exactly why

We talked at length about why the Fed wanted so desperately wanted the authority to pay interest on reserves. Write an essay explaining exactly why the Fed wanted this authority so badly.Comment on when the Fed got this authority and what they did after they got this authority.Please be as specific as possible and be sure to mention the Fed's balance sheet as well as the term sterilization in your essay.

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