Paying Interest on Reserves-Problem Solving Exercise 3 (Algo) The U.S. economy is experiencing a recession. In order to smooth the economy the Federal Reserve would like to adjust the interest rate it...

Extracted text: Paying Interest on Reserves-Problem Solving Exercise 3 (Algo) The U.S. economy is experiencing a recession. In order to smooth the economy the Federal Reserve would like to adjust the interest rate it pays on reserves. If the Fed has a goal of increasing the money supply by $25 billion, what should the change in excess reserves be if the reserve requirement is 10%? Instructions: Enter your answer as a positive number rounded to two decimal places. Excess reserves will need to (Click to select) by $ billion.