So chaos scenario. Mass deportations create huge labour imbalance. Fed starts hiking again. Trump appoints lacky as new chair. Powell stays on as part of the Board. Civil war within FOMC. Fed funds and IoER diverge, as different factions push the policy levers they control in different directions. 🤣
November 23, 2024 at 11:39 AM
So chaos scenario. Mass deportations create huge labour imbalance. Fed starts hiking again. Trump appoints lacky as new chair. Powell stays on as part of the Board. Civil war within FOMC. Fed funds and IoER diverge, as different factions push the policy levers they control in different directions. 🤣
Hey I gots an idea for how's to reduce the (American) national debt:
Stop making the federal reserve pay 1.95% interest on private banks' holdings (IOER - Interest on Excess Reserves)
It contributes 0.1% to the 0.25% interest rate all by itself.
Stop making the federal reserve pay 1.95% interest on private banks' holdings (IOER - Interest on Excess Reserves)
It contributes 0.1% to the 0.25% interest rate all by itself.
July 15, 2025 at 7:44 PM
Hey I gots an idea for how's to reduce the (American) national debt:
Stop making the federal reserve pay 1.95% interest on private banks' holdings (IOER - Interest on Excess Reserves)
It contributes 0.1% to the 0.25% interest rate all by itself.
Stop making the federal reserve pay 1.95% interest on private banks' holdings (IOER - Interest on Excess Reserves)
It contributes 0.1% to the 0.25% interest rate all by itself.
As rates have risen, IoER has as well, and as the Fed Balance Sheet has grown, that’s also led to IoER growing. A few years ago the Fed cut reserve requirements to zero, partly to blunt the Excess Reserves side of the IoER function.
But I agree with you, it may be time to rethink this policy.
9/9.
But I agree with you, it may be time to rethink this policy.
9/9.
June 11, 2025 at 10:48 PM
As rates have risen, IoER has as well, and as the Fed Balance Sheet has grown, that’s also led to IoER growing. A few years ago the Fed cut reserve requirements to zero, partly to blunt the Excess Reserves side of the IoER function.
But I agree with you, it may be time to rethink this policy.
9/9.
But I agree with you, it may be time to rethink this policy.
9/9.
⭐In March and April 2025, Dr Sabine Dörry from LISER joined the @ioer.bsky.social (IOER) as the first fellow of its new Fellowship Programme.
💬 Join the conversation here:
www.linkedin.com/feed/update/...
ℹ️ Read the full interview by Heike Hensel/IOER Media here:
www.ioer.de/en/press/new...
💬 Join the conversation here:
www.linkedin.com/feed/update/...
ℹ️ Read the full interview by Heike Hensel/IOER Media here:
www.ioer.de/en/press/new...
May 14, 2025 at 7:26 AM
⭐In March and April 2025, Dr Sabine Dörry from LISER joined the @ioer.bsky.social (IOER) as the first fellow of its new Fellowship Programme.
💬 Join the conversation here:
www.linkedin.com/feed/update/...
ℹ️ Read the full interview by Heike Hensel/IOER Media here:
www.ioer.de/en/press/new...
💬 Join the conversation here:
www.linkedin.com/feed/update/...
ℹ️ Read the full interview by Heike Hensel/IOER Media here:
www.ioer.de/en/press/new...
If the Fed stops paying IOER to banks (allegedly costing Treasury), isn’t the most logical option for banks to put the money in 28 day bills at which point the Treasury would effectively be paying interest to the banks? (This is a descriptive question, not a normative MMT one).
June 12, 2025 at 12:59 AM
If the Fed stops paying IOER to banks (allegedly costing Treasury), isn’t the most logical option for banks to put the money in 28 day bills at which point the Treasury would effectively be paying interest to the banks? (This is a descriptive question, not a normative MMT one).
📢 Submit your Abstracts on “Resilience to Multi-Risk” (until 16 Jan 2026) for the Annual Meeting of the Working Group on #NaturalHazards & Risks (📅 28-29 Apr 2026 📍 #IOER)
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@gfz.bsky.social @pik-potsdam.bsky.social @helmholtzklima.bsky.social 🧪 #AcademicSky #adapt
👉🏻 www.ioer.de/en/events/mu...
@gfz.bsky.social @pik-potsdam.bsky.social @helmholtzklima.bsky.social 🧪 #AcademicSky #adapt
December 16, 2025 at 1:19 PM
📢 Submit your Abstracts on “Resilience to Multi-Risk” (until 16 Jan 2026) for the Annual Meeting of the Working Group on #NaturalHazards & Risks (📅 28-29 Apr 2026 📍 #IOER)
👉🏻 www.ioer.de/en/events/mu...
@gfz.bsky.social @pik-potsdam.bsky.social @helmholtzklima.bsky.social 🧪 #AcademicSky #adapt
👉🏻 www.ioer.de/en/events/mu...
@gfz.bsky.social @pik-potsdam.bsky.social @helmholtzklima.bsky.social 🧪 #AcademicSky #adapt
Today has been SUCH a validating day to be on Bluesky. Total vindication. A substantive talk about economics (IoER), some NatSec thrown in with real time news, and no stupid drama. This is what I loved and used to have, and I’m so happy to have it here now.
June 12, 2025 at 2:00 AM
Today has been SUCH a validating day to be on Bluesky. Total vindication. A substantive talk about economics (IoER), some NatSec thrown in with real time news, and no stupid drama. This is what I loved and used to have, and I’m so happy to have it here now.
I mean, many have made that argument and there can be a link from reserves to the money supply - before interest on reserves, more reserves meant lower rates and lower rates encouraged banks to create loans and deposits. More complicated now, post IOER.
www.newyorkfed.org/research/epr...
www.newyorkfed.org/research/epr...
Divorcing Money from Monetary Policy - FEDERAL RESERVE BANK of NEW YORK
Many central banks implement monetary policy in a way that maintains a tight link between the stock of money and the short-term interest rate. In particular, their implementation procedures require th...
www.newyorkfed.org
September 23, 2026 at 9:57 PM
I mean, many have made that argument and there can be a link from reserves to the money supply - before interest on reserves, more reserves meant lower rates and lower rates encouraged banks to create loans and deposits. More complicated now, post IOER.
www.newyorkfed.org/research/epr...
www.newyorkfed.org/research/epr...
That piece is pretty confused. IoER is the tool that now sets the Fed funds rate. There is no separate effort by the NY Fed to set the Fed funds rate via OMOs. With ample reserves, IoER and ONRRP rates set a corridor for the funds rate.
November 23, 2024 at 4:46 PM
That piece is pretty confused. IoER is the tool that now sets the Fed funds rate. There is no separate effort by the NY Fed to set the Fed funds rate via OMOs. With ample reserves, IoER and ONRRP rates set a corridor for the funds rate.
#ilus2025 #Dresden #ioer #urbanscience #percolation #urbanfield
First ILUS conference and sharing of some reflections on percolation theory and urban phenomena.
First ILUS conference and sharing of some reflections on percolation theory and urban phenomena.
November 8, 2025 at 6:14 PM
#ilus2025 #Dresden #ioer #urbanscience #percolation #urbanfield
First ILUS conference and sharing of some reflections on percolation theory and urban phenomena.
First ILUS conference and sharing of some reflections on percolation theory and urban phenomena.
Isn’t it still an interest rate regime in the sense of an effort to keep Fed Funds, IOER, and repo for MMF all in alignment?
June 12, 2025 at 1:05 AM
Isn’t it still an interest rate regime in the sense of an effort to keep Fed Funds, IOER, and repo for MMF all in alignment?
You have to think back to rate policy and sentiment back then to get the full picture. We legitimately thought interest rates would be at the zero bound forever! IoER was set at 0.05% (I think) above the higher end of the FFR curve, at the time, that was just 30 basis points!
8/
8/
June 11, 2025 at 10:48 PM
You have to think back to rate policy and sentiment back then to get the full picture. We legitimately thought interest rates would be at the zero bound forever! IoER was set at 0.05% (I think) above the higher end of the FFR curve, at the time, that was just 30 basis points!
8/
8/
Once we moved to IOER.. an innovation I advocated for and was adopted.. the rate is now just an semi arbitrary level with whatever the system requires to maintain it in the term structure ++
July 20, 2025 at 3:57 PM
Once we moved to IOER.. an innovation I advocated for and was adopted.. the rate is now just an semi arbitrary level with whatever the system requires to maintain it in the term structure ++
Join IOER colleagues in Karlsruhe from 15–17 October 2025 for the " #UrbanTransformation" Conference! Share experiences on real word labs, co-creation, and experimentation with scholars and societal actors.
Register 👉 www.urban.kit.edu/urban_transf...
Register 👉 www.urban.kit.edu/urban_transf...
Urban Transformation Conference 2025: die wissenschaftliche Konferenz (15. bis 17. Oktober) der KIT Science Week 2025 "Stadt der Zukunft". Anmeldung unter www.urban.kit.edu/urban_transf.... #KITKarlsruhe #KITScienceWeek25 #StadtDerZukunft #UrbanTransformation
October 2, 2025 at 10:53 AM
Join IOER colleagues in Karlsruhe from 15–17 October 2025 for the " #UrbanTransformation" Conference! Share experiences on real word labs, co-creation, and experimentation with scholars and societal actors.
Register 👉 www.urban.kit.edu/urban_transf...
Register 👉 www.urban.kit.edu/urban_transf...
IoER is contentious. It’s technically a subsidy, and is predicated on the Fed Balance Sheet being at least as big as it was in 2009. It’s a lot bigger now. But it does its job well, namely preventing more of the M2 from becoming “inflationary” dollars by keeping it in the banking system.
June 11, 2025 at 10:11 PM
IoER is contentious. It’s technically a subsidy, and is predicated on the Fed Balance Sheet being at least as big as it was in 2009. It’s a lot bigger now. But it does its job well, namely preventing more of the M2 from becoming “inflationary” dollars by keeping it in the banking system.
My institute, Leibniz Institute of Ecological Urban and Regional Development (IOER) @ioer.bsky.social in Dresden (Germany), is offering an international visiting program for senior scientist. Please consider if you want to work with me or anyone else at the institute www.ioer.de/en/career/io...
October 14, 2024 at 3:00 PM
My institute, Leibniz Institute of Ecological Urban and Regional Development (IOER) @ioer.bsky.social in Dresden (Germany), is offering an international visiting program for senior scientist. Please consider if you want to work with me or anyone else at the institute www.ioer.de/en/career/io...
How to create a stimulating learning environment with insights into real-world #SpatialPlanning conflicts? @njoshi.bsky.social & Alejandro Mazarro know the answer - and received the AESOP Excellence in Teaching Award 2026. Congratulations! 👏🏻
👉🏻 www.ioer.de/en/press/new...
@gpean-planning.bsky.social
👉🏻 www.ioer.de/en/press/new...
@gpean-planning.bsky.social
Scientists from the IOER honored with AESOP Excellence in Teaching Award 2026
Neelakshi Joshi and Alejandro de Castro Mazarro from the IOER have received the AESOP Excellence in Teaching Award 2026 for their course "Global Perspectives in Spatial Development". With this award, ...
www.ioer.de
July 29, 2026 at 5:44 PM
How to create a stimulating learning environment with insights into real-world #SpatialPlanning conflicts? @njoshi.bsky.social & Alejandro Mazarro know the answer - and received the AESOP Excellence in Teaching Award 2026. Congratulations! 👏🏻
👉🏻 www.ioer.de/en/press/new...
@gpean-planning.bsky.social
👉🏻 www.ioer.de/en/press/new...
@gpean-planning.bsky.social
🤝🏻 In March/April, we welcomed Sabine Dörry from @liser.lu as our first #IOER_Fellow. Read an interview with the economic and financial geographer and apply for an IOER Fellowship if you are interested in #SustainabilityTransition.
⏳ Deadline: 12 May.
👉🏻 www.ioer.de/en/press/new...
#AcademicSky
⏳ Deadline: 12 May.
👉🏻 www.ioer.de/en/press/new...
#AcademicSky
“Financial markets must be more strongly aligned with sustainability goals”
In March and April 2025, Dr Sabine Dörry from the Luxembourg Institute of Socio-Economic Research (LISER) was a visiting scientist at the IOER. As the first fellow, the economic and financial geograph...
www.ioer.de
April 30, 2025 at 12:22 PM
🤝🏻 In March/April, we welcomed Sabine Dörry from @liser.lu as our first #IOER_Fellow. Read an interview with the economic and financial geographer and apply for an IOER Fellowship if you are interested in #SustainabilityTransition.
⏳ Deadline: 12 May.
👉🏻 www.ioer.de/en/press/new...
#AcademicSky
⏳ Deadline: 12 May.
👉🏻 www.ioer.de/en/press/new...
#AcademicSky
Correct, the balance sheet itself isn't M2 but the IoER payments are. As the balance sheet expands, so does the IoER, so it's a balancing act, just like any other "tool in the toolbox."
June 12, 2025 at 2:08 AM
Correct, the balance sheet itself isn't M2 but the IoER payments are. As the balance sheet expands, so does the IoER, so it's a balancing act, just like any other "tool in the toolbox."
🚨 Innovative ideas in the field of spatial #SustainabilityTransformation research? We invite scientists to apply for #IOER_Fellow to jointly advance the spatial sustainability sciences. Apply until 📆15 Nov!
👉🏻 www.ioer.de/en/career/io...
@transitionsnetwork.bsky.social @gpean-planning.bsky.social
👉🏻 www.ioer.de/en/career/io...
@transitionsnetwork.bsky.social @gpean-planning.bsky.social
September 24, 2026 at 9:28 AM
🚨 Innovative ideas in the field of spatial #SustainabilityTransformation research? We invite scientists to apply for #IOER_Fellow to jointly advance the spatial sustainability sciences. Apply until 📆15 Nov!
👉🏻 www.ioer.de/en/career/io...
@transitionsnetwork.bsky.social @gpean-planning.bsky.social
👉🏻 www.ioer.de/en/career/io...
@transitionsnetwork.bsky.social @gpean-planning.bsky.social
❓How can urban digital twins support a participatory zero emission planning?💡Join the discussion at the 4th IOER Conference “Space & Transformation” with our keynote speaker Professor Ursula Eicker from @concordia.ca.
Learn more 👉🏻 conference.ioer.info/en/
#IOERConf #SustainabilityTransition
Learn more 👉🏻 conference.ioer.info/en/
#IOERConf #SustainabilityTransition
July 24, 2026 at 11:03 AM
❓How can urban digital twins support a participatory zero emission planning?💡Join the discussion at the 4th IOER Conference “Space & Transformation” with our keynote speaker Professor Ursula Eicker from @concordia.ca.
Learn more 👉🏻 conference.ioer.info/en/
#IOERConf #SustainabilityTransition
Learn more 👉🏻 conference.ioer.info/en/
#IOERConf #SustainabilityTransition
