FED Reserve Test
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What yr was the FED established?
How many board of Governors members are there?
How many yrs is a Board of Governors term in office?
Board of Governors are appointed by?
Board of Governors appointments are confirmed by who?
How many Fed Reserve Districts are there?
What is the total number of Fed Reserve banks and branches?
What yr was the IRS established?
Federal Reserve Head quarters is located?
Name the four types of US Govt Securities?
- 1. Treasury Bills
- 2. Treasury Notes
- 3. Treasury Bonds
- 4. US savings Bonds
The combined balance of all US Govt Securities is called?
Name 4 attributes of US Govts Securities which make them attractive to investors?
- 1. Safe
- 2. Stable
- 3. Problem Free
- 4. Always a market
What is the four part Mission of the FED?
- 1. minimize inflation
- 2. minimize recession
- 3. minimize unemployment
- 4. Encourage stable economic growth
Name four regular purchasers of US Govt Securities?
- 1. Colleges
- 2. Other Countries
- 3. Corps.
- 4. General Public
The FED attempts to accomplish its Mission through Monetary Policy which is the management of what?
The money suppply
What is the the logic of Monetary Policy ?
- 1. More money , more spending is inflationary
- 2. Less money , less spending is recessionary
- 3. Find Balance
Name the three tools that the FED uses
- 1. Set the reserve requirements
- 2. Set Discount /Fed Fund Rate
- 3. Open market operations
Describe completely how one tool works?
1. Using the set reserve requirements. Increasing the reserve rate decreases the money supply
What is Fiscal Policy ?
Govt taxation and spending
Who carries out Fiscal Policy?
Fed, State, and local goverments
What is the call report?
A report created by the banks and credit unions. This includes loans, balances and sent to the Fed Reserve every 6 wks
What are the Compiled Call Reports?
combined report which is sent out to Washington DC (head quarters)
What is the Beige Book?
the compiled report for the Board of Governors and the fed reserve staff. They use this to make informed monetary decisions.
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