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Keywords:interest on excess reserves (IOER) 

Working Paper
The Federal Reserve's Tools for Policy Normalization in a Preferred Habitat Model of Financial Markets

This paper develops a model of the financial system that provides a framework for analyzing monetary policy implementation in a world with multiple Federal Reserve liabilities and a superabundant supply of reserves. The analysis demonstrates that the Federal Reserve's suite of policy tools including interest on excess reserves (IOER), overnight and term reverse repurchase agreements, and term deposits should allow the Federal Reserve to raise the level of short-term interest rates at the appropriate time. The model also demonstrates that these tools could be used in different ways to achieve ...
Finance and Economics Discussion Series , Paper 2014-83

Implementation of open market operations in a time of transition

Remarks before the Japan Center for Economic Research, Tokyo, Japan.
Speech , Paper 142

The U.S. monetary policy outlook and its global implications

Remarks at the Bloomberg Americas Monetary Summit, New York City.
Speech , Paper 166

The national and regional economy

Remarks at the New Jersey Performing Arts Center, Newark, New Jersey.
Speech , Paper 161