MACRO ESSAY PREP
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8 Terms
IORB
the rate the Fed pays a bank on the funds in their reserve account at the Fed.
ON RRP
he rate the Fed pays financial institutions that operate in the federal funds market but cannot earn interest on their reserve balances.
Discount Rate
the rate the Fed charges banks to borrow funds at its discount window, the collection of short term lending programs for financial institutions facing liquidity constraints.
BoG (The Federal Reserve Board of Governors)
consists of 7 members, they oversee the federal reserve system working to investigate new problems within the economy.
The 12 Federal Reserve Bank
work to collect real time economic data for the federal reserve board of governors to use to create monetary policies to benefit the dual mandate goals.
FOMC (The Federal Open Market Committee)
12 members works to set monetary policy to create the most maximized employment and stabilization of prices within the economy they meet normally 8 times a year and adjust inflation by ¼ points to create small changes that will benefit the economic flow of the nation market.
Liquidity
The quality that makes an asset easily convertible into legal tender used for economic transactions with
relatively little loss of value in the conversion process.
Functions of money
Medium of exchange
Unit of account
Store of value