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Federal Reserve System

FED board of governors chairmanAlan Greenspan
7 membersappointed to a 14 year term by pres with approval of Senate
Board of Governors of the FeDmade up of 7 members each seving 14 years and handle day to day political pressures
functions of the Fedcontrol money supply, supply economy with paper money
appropriationfunds set aside for s specific purpose
supplythe amount of goods produced to meet demand
consensusgeneral agreement
demarcationthe drawing of limits
complianceaccepting a demand or proposal
stabilitythe strength of the economy
pricethe value of an object
transactiona business deal
demandthe amount of a product that people are willing and able to buy
inflationan increase in prices
recessiona period of reduced economic activity
moneysomething accepted as a measure of value
Federal REserve Systemin charge of the nation's monetary policy
borrowera person who recieves somethiung with the implied notion of returning it
Open Market Operationspurchases and sales between government and private citizens
lendersomeone who lets out money for temporary use on condition with repayment with increase
money marketthe FED wants to expand the money supply
capital marketthe FED wants to reduce the money supply
repurchase agreementcontract giving someone who sold the good the right to get it back
credittime given for payment of goods or services
discount ratethe rate the Fed gives other banks
reserve requirements a percentage of deposits the banks must keep out of circukation
Federal Fund Ratean amount of money set aside to ensure the FOMC's monetary goals
federal reserve notepaper money
securitiessomething given deposited or pleged to make certain the fullfillment of an obligation
bondsgovernment debt
depositmoney placed for safe keeping
mortgagethe amounnt of money paid to keep a property
GDpthe Gross Domestic Property

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