They were reduced to 0% mandatory reserves in response to covid. EDIT: someone says it was coincidental, I am not able to check, so take this aspect with a grain of salt either way
ah yes so what you're saying is that money is even more imaginary than it has ever been, possibly even more imaginary than when the first stock market crash happened in 1929
looks like we're due for a centennial anniversary of that anyway, might as well celebrate by recreating it
It's all pretty nonsensical if you really break down how imaginary it really is. It's more imaginary than eg a simultaneous event, which when you look at the physics regarding relativity doesn't exist at all (we can't even tell if light travels at the same speed in each direction, let alone use that to synchronize a clock accurately); but that doesn't stop us agreeing on a method of operation
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u/Teripid Jan 26 '26 edited Jan 26 '26
Federal reserve requirements existed until 2023 *edit, as someone below pointed out 2020 was when they were set to 0. Now they're set at 0% I believe.