Summary: The Economics of Money, Banking and Financial Markets by Mishkin Questions and Answers 2023

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central bank - --An institution designed to oversee the banking system and regulate the quantity of money in the economy -federal reserve banks - --the 12 banks chartered by the U.S. government to ... control the money supply and perform other functions -board of governors of the federal reserve system - --7 governors appointed by the President who serve 14 year staggered terms -federal open market committee - --the committee that makes decisions regarding the conduct of open market operations; composed of the seven members of the board of governors of the federal reserve system, the president of the federal reserve bank of new york and the presidents of four other federal reserve banks on a rotating basis -open market operations - --Buying & selling government securities to change the supply of money -national bank - --commercial banks chartered by the office of the comptroller of the currency -federal funds rate - --The interest rate at which banks make overnight loans to one another -tightening of monetary policy - --rise in federal funds rate -easing of monetary policy - --Lowering of the federal funds rate [Show More]

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