Economics 6.3

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7 Terms

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Monetary policy

The Fed’s actions to control money and credit in the economy.

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Reserves

Money banks keep on hand or at the Fed.

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Reserve requirements

The minimum amount banks must keep in reserve.

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Check clearing

Process of moving money from one bank to another after a check is written.

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Bank holding company

A company that owns one or more banks.

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Federal funds rate

Interest rate banks charge each other for overnight loans

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Discount rate

Interest rate the Fed charges banks for loans.