List the names of the current chairperson of the Federal Reserve and members of the Board of Governors of the Federal Reserve System.1. What is the purpose of the Federal Open Market Committee (FOMC)?2. Which of the following Fed actions will increase bank lending? Select one or more answers from the choices shown.The Fed raises the discount rate from 5 percent to 6 percent.The Fed raises the reserve ratio from 10 percent to 11 percent.The Fed buys $400 million worth of Treasury bonds from commercial banks.The Fed lowers the discount rate from 4 percent to 2 percent.Note that Fed sets a discount rate that it charges to banks for short-term loans, which then contributes to the rate that the banks charge customers on their loans. While the Fed has the ability to issue Federal Reserve Notes, the paper currency used in the U.S. monetary system, they do not print the money. That task is still performed by the U.S. Mint. After the financial crisis of 2007-2008, Congress increased the Fed’s supervisory powers.3. Describe tools that the US Treasury and the Federal Reserve use to undertake restrictive monetary policy today (versus before the mortgage-debt crises).

Since there are multiple questions posted here, the first one only will be answered in this session.…

Answered: List the names of the current…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Concept explainers

Question

List the names of the current chairperson of the Federal Reserve and members of the Board of Governors of the Federal Reserve System.

1. What is the purpose of the Federal Open Market Committee (FOMC)?

2. Which of the following Fed actions will increase bank lending?

Select one or more answers from the choices shown.

The Fed raises the discount rate from 5 percent to 6 percent.
The Fed raises the reserve ratio from 10 percent to 11 percent.
The Fed buys $400 million worth of Treasury bonds from commercial banks.
The Fed lowers the discount rate from 4 percent to 2 percent.

Note that Fed sets a discount rate that it charges to banks for short-term loans, which then contributes to the rate that the banks charge customers on their loans. While the Fed has the ability to issue Federal Reserve Notes, the paper currency used in the U.S. monetary system, they do not print the money. That task is still performed by the U.S. Mint. After the financial crisis of 2007-2008, Congress increased the Fed’s supervisory powers.

3. Describe tools that the US Treasury and the Federal Reserve use to undertake restrictive monetary policy today (versus before the mortgage-debt crises).

Expert Solution

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions