1 requires the president to set numerical goals for

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1. Requires the President to set numerical goals for the economy of the next fiscal year in the Economic Report of the President and to suggest policies that will achieve these goals. 2. Requires the Chairman of the Federal Reserve to connect the monetary policy
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Econ 350 Winter 2012 Assignment 7 2 with the Presidential economic policy. c. When did Alan Greenspan become Chairman of the Board of Governors? He became the Chairman of Board of Governor on Aug 1987 d. What change occurred in January 2003? The Fed changed its discount window operation so as to have rates at the window set above the prevailing Fed Funds rate and provides rationing of loans to banks trough interest rate 3. After reading your group’s reports from last Friday, briefly describe what you’ve learned from their papers. How did the other papers you read relate to your own paper? What are the ways in which the financial system builds or destroys wealth in our society? I absolutely learned a lot. First of all, I have completely new concepts of all these financial terms which I might misunderstand for years, and now I finally know what they really are. Second, know what is behind the Financial system, the functions of all these financial instruments. All the other paper are very closely related to mine, because I can felt a sense of kind surprise on some other people’s work, there are like me, having misunderstanding for these financial terms for years. From all these papres, I found out one thing, that the financial system built and give up a better and wealthier life and ultimate destroyed our society because of the wrong using of the financial system, and the wrong purpose instead of serving people they put serving themselves at the first place. They have the subprime loan to make people better life, but they also have the predatory lending to destroy the whole system and lead to the destruction of wealth in our society.
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