Definition Demolition
(What is) central bank of the United States?
How many federal reserve banks are there?
(What is) 12?
The purpose of the Board of Governors is to..?
(What is) Regulate the operations of the Federal Reserve Banks
Where is our FED located?
(What is) Boston, Massachusetts
What are the three parts of the structure of the Federal Reserve System?
(What is) the Board of Governors, 12 Reserve Banks, and the Federal Open Market Committee
Federal Reserve Banks are...
(What is) the bankers of the U.S. treasury, distributor of the nation's currency
What is a role of the Fed?
(What is) conduct the nation's monetary policy, operate a nationwide payment system
What do low interests rate do to the economy?
(What is) Have more money available to lend and thus stimulate the economy.
When businesses borrow money, what happens?
What clears more than 1/3 of the U.S.'s checks?
(What is) Financial Services?
(What is) seven government workers who regulate the operations of the Federal Reserve Banks?
How many governors are in the FOMC?
(What is) 7 governors?
What do Federal Reserve Banks do for the U.S. Treasurer?
(What is) serve as a banker?
Which FED is ours?
(What is) FED 1A
What are the key tools of Monetary Policy?
(What are) Discount Rate, Reserve Requirements, and Open Market Operations
What is monetary policy?
(What is) the ability to change the nation's supply of money and credit
How many terms do the members of the Board of Governors serve?
(What is) 1 term of 14 years?
The purpose of supervising and regulation is to..?
(What is) keep the banking system running safe and sound, ensure law compliance, and oversee international banking interests
How many individuals are in each Board of Directors?
(What is) 7-9 individuals
Where is the most western Federal Reserve Bank?
(What is) 12L, San Francisco
Define the Federal Funds Rate?
(What is) the rate where banks charge each other overnight on loans of reserve balances held by the Fed ('a target rate' is accepted too)
When was the Fed established
(What is) 1913?
What are the goals of monetary policy?
Why does inflation affect you?
(What is) It affects ALL prices, including items that I will have to pay more for due to inflation.
In the FOMC, how many presidents rotate?
(What is) 5 presidents