Board of Governors
This is the total number of members on the Board of Governors.
7
The number of regional Federal Reserve Banks.
12
This is the Fed’s most frequently used policy tool.
open market operations
One of the Fed’s mandates is to keep this rate low
intrest rates
The Fed is audited by this government agency.
government accountability office
Board members are appointed by this person.
president
This is the name of the central Federal Reserve Bank located in New York.
Federal Reserve Bank of New York.
This tool changes the amount of money banks must hold in reserve.
reserve requirement
Another mandate is price stability, which is measured by this economic indicator.
inflation rate
True or False: The Fed is part of the executive branch.
false
A Governor serves this many years per term.
14
Each regional bank serves a specific one of these geographic areas.
district
The Fed lowers this rate to encourage borrowing during a recession.
federal funds rate
The Fed considers this 2-word term when balancing all 3 goals.
balance and risks
This committee in Congress often oversees Fed testimony.
House Financial Services Committee and the Senate Banking, Housing, and Urban Affairs Committee.
The current Chair of the Board of Governors.
Jerome H. Powell
These institutions own shares in regional Federal Reserve Banks.
Member commercial banks
Buying government securities is part of this type of policy.
monetary
This is the third official mandate besides inflation and employment.
moderate long-term interest rates.
Though independent, the Fed must report to this branch of government.
legislative branch
The Board of Governors is located in this city.
Washington, D.C.
This major role is unique to the New York Fed among the 12 banks.
primary executor
This was the name of the Fed’s large-scale bond-buying program used during crises.
quantitative easing
The Fed’s inflation target is typically set at this percentage.
2%
This is one reason the Fed is designed to be independent from politics.
its funding comes from its own operations, not direct congressional appropriations, preventing politicians from using budget cuts as leverage over monetary policy decisions