Federal Reserve System
This institution serves as the central bank of the United States.
Federal Reserve System
This is the main goal of the Fed’s monetary policy—keeping prices stable and employment high.
economic stability
The acronym FOMC stands for this.
Federal Open Market Committee
The Federal Reserve acts as a lender of last resort to these institutions.
Banks
The Federal Reserve System was created in this year.
1913
The Fed is overseen by this group of seven members in Washington, D.C.
Board of Governors
When the Fed raises interest rates, it’s usually trying to slow this.
inflation
The FOMC meets this often to discuss monetary policy.
6 weeks or 8 times per year
The Fed supervises and regulates this sector.
Banking system
This act established the Federal Reserve System.
Federal Reserve Act
This committee sets U.S. monetary policy by controlling interest rates and open market operations.
FOMC (Federal Open Market Committee
This term refers to the buying and selling of government securities to influence the money supply.
open market operations
The FOMC is responsible for overseeing this activity in the economy.
What is open market operations
The Fed provides these services to banks, like check clearing and electronic payments.
banking services
The Chair of the Board of Governors serves this term length.
4 years
There are this many regional Federal Reserve Banks across the country.
12
Lowering this rate encourages banks to borrow more from the Fed.
discount rate
Open market operations primarily involve buying and selling these.
government securities or bonds
The Fed issues this kind of U.S. currency.
Federal Reserve Notes
The New York Federal Reserve Bank always has this special role on the FOMC.
permanent voting member
These banks carry out the Fed’s policies and supervise local financial institutions.
Regional Federal Reserve Banks
The Fed uses this term for the required percentage of deposits banks must hold in reserve.
reserve requirement
The FOMC consists of the Board of Governors plus these Regional Bank presidents.
The Board of Governors oversees this important financial policy area.
monetary policy
Members of the Board of Governors serve this many years.
14 years