Summary:
What does she mean here by the figurative  “pressure”?  Can one of you Art Degree people help figure it out?   Throw me a bone here... "As shown in Figure 9, IOER is currently set at 10 basis points, well below the top of the target range. If undue downward pressure on rates were to emerge, the Federal Reserve could adjust IOER higher to lift overnight rates. Even if this downward pressure persisted, the ON RRP would maintain a strong floor by providing an alternative investment for money market participants and, if needed, by reducing the quantity of reserves held by the banking system to relieve pressure on bank balance sheets.”I’m reading that sentence over and over....  to me it can read like she thinks “banks lend the reserves!” and by offering an alternative reverse repo facility it

Topics:
Mike Norman considers the following as important:

This could be interesting, too:

Robert Vienneau writes Books After Marx

Matias Vernengo writes Elon Musk (& Vivek Ramaswamy) on hardship, because he knows so much about it

Mike Norman writes How to Cut Trillion in Federal Spending Without Breaking a Sweat Stephanie Kelton

Lars Pålsson Syll writes Klas Eklunds ‘Vår ekonomi’ — lärobok med stora brister