How did feds long-standing policy of not paying interest, Macroeconomics

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How did feds long-standing policy of not paying interest

Problem

How did the Fed's long-standing policy of not paying interest on bank reserves act much like a tax on bank reserves?

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: How did feds long-standing policy of not paying interest

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Macroeconomics: How did feds long-standing policy of not paying interest

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