Federal reserve
What is the federal reserve?
Central bank of the U.S.
What are 3 ways to purchase something ?
Cash , check , card
What is fascial policy ?
The taxing and spending decisions set by the government
Macroeconomic goals
Full employment, price stability, economic growth.
Board of governors
Appointed managers of the federal reserve who make monetary policy decisions.
How many federal banks are in the U.S.
12
What is the medium of exchange ?
Allows for easy transactions between households and businesses
Who signs fascial policy into law
The president
How do we measure stable prices ?
Customer price index.
Reserve requirements
The percent of customer deposits that banks must have on hand.
Where is the federal reserve organization located ?
Washington D.C.
What is store value ?
belief that saving money will allow people to buy goods later on.
Why does fascial policy change ?
Price stability, full employment, and economic growth.
What is CPI commonly used to track
Inflation
Interest on reserves
Paid to commercial banks.
What is the federal open market committee?
Control all monetary policy decisions
What is unit of account ?
Allows people to compare goods and services by using dollar value
What is the term for the government going over budget ?
Deficit
What is inflation ?
Increase in price
Discount rate
Interest rate charged by federal reserve for loans.
What is the FOMC made up of ?
7 members of the board of governors
Who’s the best teacher ever in the world ?
COACH PIPES
What is national debt ?
Total amount owed by federal government
Can a business benefit from inflation?
Yes
Open market operations
The buying and selling of treasury securities by federal reserve.