The Federal Reserve System

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There are currently ___ Federal districts.

12

The Board of Governors are each appointed for a ___ year term.

14

The _____ controls the money supply.

FED

The Fed uses 4 main policy tools: Open Market Operations, changing the required reserve ratio, discount rate, and __________ ___________ ___________.

Federal Funds Rate

The Feds tool of __________ ____________ _______________ involves manipulating the rate at which banks borrow from banks.

Federal Funds Rate

The ___________ ____________ ____________ is the least impact full to the fed uses to control the money supply.

Federal Funds Rate

Each Federal Reserve has its own ____________ ____________ ____________.

Federal Reserve Bank.

The ____________________ ________________ _______________________ is the central bank of the United States.

Federal Reserve System

The current chairman is ____________ ________________.

Janet Yellen

The FOMC consists of the president of the Federal Reserve Bank of ___________ _______________.

New York

Quanntitative easing differs from a ___________ ____________ ____________ in its scale and purpose, and it might require the Fed o buy any of a number of private securities rather than government securities.

Normal Open Market Purchase

The Feds tool with the most impact is the _________________ ______________ _____________.

Open Market Operation

_____________ _______________ ________________is the buying and selling of securities.

Open Market Operations

_______________ are also called bonds.

Securities

The Board of Governors of the Federal Reserve System is located in _________________ _____.

Washington DC

Durining expansionary Monetary Policy Periods, the Fed _______ bonds.

buys

A ______________ _________________ is a public authority that provides banking services to banks and regulates financial institutions and markets.

central bank

The FOMC consist of the ____________ and other six members of the Board of Governors.

chairman

The _______________ is the Fed's cheif executive, public face, and center of power and responsibility.

chairman

When the Fed buys private securitiies or makes loans to financial institutions, the action is called _____________ ___________.

credit easing

During Expansionary Monetary Policy, money supply, reserve ratio, discount rate, federal funds rate, and overall interest rate __________.

decreases

The Feds tool of ____________ _______________ involves changing the rate at which banks borrow from the Fed.

discount rate

During Contractionary Monetary Policy, money supply, reserve ratio, discount rate, federal funds rate, and overall interest rate __________.

increases

When the Fed creates bank reserves by conducting a large-scale open market purchase at a low or possibly zero federal funds rate, the action is called _____________ _________________.

quantitative easing

The president appoints one if the board members as a Chairman for a term of 4 years, which is ____________.

renewable

The Fed's tool of _____________ ________________ _____________ involves the changing of the reserve requirement.

required reserve ratios

The FOMC consist of four president of the other regional Federal Resever banks on a ____________ rotating basis.

yearly

The Fed's main task is to regulate the interest rate and quantity of money to achieve _________ ____________ ________________ inflation and sustained economic growth.

low and predictable

The ____________ _________________ ____________________ __________________ is the Fed's main policy- making committee.

Federal Open Market Committee

Durining contractionary Monetary Policy Periods, the Fed _______ bonds.

sells

The Board of Goveners consist of ______________ members, appointed by the President of the United States and confirmed by the Senate.

seven

The FOMC meets approximately every ____________ __________.

six weeks


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