Members of the US Congress, like politicians everywhere, don't have to pass an intelligence test to get the job
Like that's news.
But, in an election year their obtuseness is raised to a whole new level.
This is a hilarious article on Bloomberg about Representatives trying to understand why the Federal Reserve pays interest on reserves.
Its also a good primer on reserves, excess reserves etc.
Enjoy! (And, read to the end, the last one is a cracker! :-D )
