The CFA Society Los Angeles asks
Will the Federal Open Market Committee decide to raise the interest rate on excess reserve balances at or before its scheduled September 2017 meeting?
This question was closed as "yes" with an end date of 15 March 2017 (Federa Reserve).
The Interest on Excess Reserves (IOER), is the interest paid by the Federal Reserve Bank to its depository institutions on balances that exceed the reserves they are required to hold (Federal Reserve). The IOER is set by the Federal Open Market Comittee (FOMC) and detailed in the implementation notes of the monthly meeting (Federal Reserve). At the January 2017 meeting, the FOMC voted to maintain the interest rate paid on excess reserve balances at 0.75 percent (Federal Reserve). The September 2017 meeting is scheduled for 19-20 September.
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