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Federal Reserve

Federal Reserve System

QuestionAnswer
Oregon is in the _____ Federal Reserve District which has a Federal Reserve Bank in _______. 12th; San Francisco
Who is the current Chair of the Federal Reserve? Jerome Powell
What must the government do to reduce high inflation when it comes to spending and the money supply? Decrease both spending and the money supply
What tool does the Fed rely on the most in conducting policy? open market operations (buying and selling bonds)
If the FOMC decides to expand the money supply it would issue a directive to (buy/ sell) government securities. buy
Who selects members of the Board of Governors of the Federal Reserve and how long are their terms? The President for appoints them for 14-year terms
Federal Open Market Committee consists of how many voting members? 12 (the 7 Board of Governors and 5 of the 12 District bank presidents)
Who controls the Federal Reserve system? it is an independent agency controlled by the Board of Governors of the Federal Reserve
What is the Federal Reserve system? The central banking system for the United States
The Federal Reserve is (controlled by/ independent of) Congress and the President. independent
When the Fed eases the money supply to create economic growth and lower unemployment, it may cause prices to (increase/ decrease). increase
To increase the money supply, the Fed should (raise/ lower) the discount rate. lower
To increase the money supply, the Fed should (raise/lower) the federal funds rate. lower
To fight unemployment, the Fed should (buy/sell) bonds. buy
To lower inflation, the Fed should (buy/ sell) bonds. sell
If GDP declines substantially, then the Fed should (increase/decrease) the money supply. increase
If the CPI (Consumer Price Index) and the PPI (producer Price Index) have risen sharply, then the Fed should (increase/decrease) the money supply. decrease
if we are experiencing a recession, then the Fed should (increase/decrease) the money supply. increase
If the economy is in contraction and businesses won't take out loans because of high interest rates then the Fed should (increase/decrease) the money supply. increase
If unemployment is high and prices are stable then the Fed should (increase/decrease) the money supply. increase
If inflation is high and unemployment is low, then the Fed should (increase/decrease) the money supply. decrease
What should the Fed do if neither unemployment or inflation is a problem? do nothing
What should the Fed do if the price of one product tripled? do nothing
Popular Economics sets

 

 



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