Is this not wildly glossing over the fact that there was a reserve requirement until very recently? https://www.federalreserve.gov/monetarypolicy/reservereq.ht

Is this not wildly glossing over the fact that there was a reserve requirement until very recently? https://www.federalreserve.gov/monetarypolicy/reservereq.htm https://www.federalreserve.gov/monetarypolicy/reservereq.htm