It was small most of the time until the last two years of Joe Biden and the last two years of Joe Biden, the interest rate went up and up and up. And For both 2023 and 2024, the Fed paid over $100 billion in interest on reserves. Wow. Last year, that's just pure tax hours. You're paying your taxes and that money is just going to interest, period, interest to giant banks. (16:31–16:43)
CLAIM
Asserts that the Federal Reserve paid over $100 billion in interest on reserves in 2023 and 2024.
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.
