Federal Flashcards
1
Q
What is the federal Reserve?
A
is the central bank and monetary authority of the United States.
2
Q
What policy do they use? / What tools do they use to achieve their goals.
A
open market operations (OMO), the federal funds rate, and the discount rate in tandem.
3
Q
How is the FED set up?
A
a central authority called the Board of Governors located in Washington, D.C., and a decentralized network of 12 Federal Reserve Banks located throughout the U.S.
4
Q
Who is in charge?
A
Chair of the Board of Governors of the Federal Reserve System/Jerome Powell
5
Q
What are the feds 3 goals?
A
maximum employment, stable prices, and moderate long-term interest rates.
