Fed Chairs
This person is the current Federal Reserve Chair
Who is Jerome Powell
What is Monetary Policy?
How the Federal Reserve handles the money supply in the US to prevent/end downturns in the Economy.
what is liquidity?
how easily an asset can be converted to cash
True or False - Newly elected Presidents can hand select a new chairperson of the FED if they are unhappy witht the sitting chair?
False
Coins and paper money are examples of .
What is Currency/M1
How do banks create/make money
What are loans.
What is contractionary monetary policy.
raising int rates/raising the RRR/selling bonds
What is M2 money?
Saving accts/Money markets/investments?
Assets that are not as easily converted into cash
How was the FED created?
Federal Reserve Act of 1913
Example of expansionary monetary policy.
lowering int. rates/cutting the RRR/buying bonds
The concept/mechanism by which banks are able to create money from deposits/Reserves?
What is the Money multiplier - 1/RRR
What district are we located in (TN) - # and city
6th - Atlanta
This person was the Chairman of the Federal Reserve prior to the current chair, she was the 1st woman to hold the position
Janet Yellen
What is the main goal of monetary policy?
keeping the economy stable
Banks are insured by? (customers deposits)
What is the FDIC
What does the FOMC do?
Buy and sell US Government Securities.
Open market operations