Paying interest on reserve balances enables the Fed to break the strong link between the quantity of reserves and the level of the federal funds rate and, in turn, allows the Federal Reserve to control short-term interest rates when reserves are plentiful.
In 2006, the Congress had approved plans to allow the Fed, beginning in 2011, to pay interest on banks' reserve balances. In the fall of 2008, the Congress moved up the effective date of this authority to October 2008.
To bring down your credit card balances, write down the benefits of reducing your debt. No more gnawing feeling that you're throwing money away, perhaps. More money flowing to other financial objectives. Then consult the list when you have doubts.
Capitalism does millions of things better than the alternatives. It balances supply and demand in an elegant way that central planning has never come close to.
Being able to go home to my kid is such a relief because he's such a happy kid. He balances my life out in such a good way.
I feel that exercise really balances me. Then I layer on the other obligations that I have.
I work mostly during the week, and on the weekend I get to hang out with friends, so it balances out pretty well.
In a tripartite government with its checks and balances, we have lost the balances.
Our culture is just a series of checks and balances. The whole idea that we're in a battle between tyranny and freedom - it's a series of pendulum swings.
Our country, if you read the 'Federalist Papers,' is about disagreement. It's about pitting faction against faction, divided government, checks and balances. The hero in American political tradition is the man who stands up to the mob - not the mob itself.
