201C14ol - CHAPTER 14 - THE FEDERAL RESERVE SYSTEM -How...

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CHAPTER 14 - THE FEDERAL RESERVE SYSTEM -How does the gov’t control the amount of $$$ in the economy? -Which gov’t agency is responsible for exercising this control? -How are banks and bond markets affected by gov’t policies? A = Boston, MA F = Atlanta, GA B = New York, NY G = Chicago, IL C = Philadelphia, PA H = St. Louis, MO D = Cleveland, OH I = Minneapolis, MN E = Richmond, VA J = Kansas City, MO our area--branches in: K = Dallas, TX Baltimore, MD L = San Francisco, CA Charlotte, NC -Monetary policy: use of money and credit controls to impact macro-economic activity -The 12 Federal Reserve banks are the core of the Federal Reserve System; they perform the following services: -clear checks between private banks -hold bank reserves -provide currency -provide loans -Structure of the Federal Reserve System (T-80): -the Board of Governors are at the top and they are
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responsible for setting monetary policy -located in Washington, DC -consists of seven members (governors); they are appointed by the president of the US and confirmed by the US Senate -serve 14 year terms; can’t be reappointed -designed to give some political independence
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201C14ol - CHAPTER 14 - THE FEDERAL RESERVE SYSTEM -How...

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