About $1 billion. So in big picture budgetary terms, a very small amount. It was. It was almost nominal, but it was the first year they began paying interest on reserves. Since 2008, they've been paying interest on reserves going forward. And it was small. 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. (16:16–16:21)
CLAIM
Asserts that the Federal Reserve has been paying interest on reserves since 2008.
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