In the last couple of years of the Biden administration, that expenditure skyrocketed and it's spending now over $150 billion. That is your and my taxpayer money that is going straight to big banks. And … Ending the Federal Reserve's practice of paying interest on bank reserves would save $1.1 trillion over the next 10 years. … we can do. And I don't think we should be sending our taxpayer dollars to giant banks. I'm also urging that we include and make better multiple provisions that I've written. (09:27–09:35)
CLAIM
Asserts that stopping the Federal Reserve from paying interest on bank reserves could save $1.1 trillion in a decade.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
