What is the Federal Reserve?

Why is the Fed sometimes called a, "bank for banks?"

Because the banks are responsible for the checking-clearing system, supervising and examining banks in their district, and keeping track of the economy in their respective districts.

What are liquid assets?

Cash on hand or an asset that can be readily converted to cash.

What are the 3 tools that the Fed can use to implement monetary policy?

First one Reserve Requirements. Second The Discount Window Third is Open-Market Operations

What are interest rates? Money Supply?

Is the amount charged, expressed as a percentage of principal, by a lender to a borrower fro the use of assets.

Who is the Chairman of the Fed? How long is his/her term? Why is he considered to be the second most powerful figure on Washington D.C?

Jerome Powell, a full term is fourteen years and one term begins every two years. Because he changes economy by lowering or raising the interest rates and that in turn effects how much our money is worth

What are the main responsibilities of the Federal Reserve?

The central bank of the US. To provide the nation with a safer, more flexible, and more stable monetary and financial system.

How many regional Federal Reserve banks are there in U.S?

Twelve Federal Reserve