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Chasing Commas (guest: Joseph Wang)

The Market Huddle

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What Is the Reserve Constrained at This Point?

Reserves are honestly just digital dollars. They are cbd, c quite literally. The difference really is that in order to have a reserve, you have to have a wallet at the fed. So if a bank ever had, ever wanted more currency, they could just cull off the fed and say, hey, i want a million dollars in currency. And the fed would deduct million dollars from the reserve account and ship a million dollars over. It's just toso cash, ok?

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