Economics Unit 6 Federal Reserve Unit

the seven-member board that oversees the Federal Reserve System

• board of presidents

• board of directors

• board of bankers

• board of governors

the actions the Federal Reserve takes to influence the level of real GDP and the rate of inflation in the economy

• monetary policy

• fiscal policy

• foreign policy

• banking policy

the twelve banking districts created by the Federal Reserve Act

• Federal Reserve Bank

• Federal Reserve Districts

• Districts of the Reserve

• Districts of the Bank

the research arm of the Federal Reserve

• Federal Advisory Council

• Federal Research Council

• Federal Council Policy Makers

• Federal Open Market Committee

Federal Reserve committee that makes key decisions about interest rates and the growth of the United States money supply

• Federal Advisory Council

• Federal Research Committee

• Federal Planning Committee

• Federal Open Market Committee

the process by which banks record whose account gives up money and whose account receives money when a customer writes a check

• bank clearing

• transfer of funds

• wiring

• check clearing

a company that owns more than one bank

• fortune five hundred company

• bank holding company

• Federal holding company

• reserve holding company

interest rate banks charge each other for loans

• state funds rate

• national funds rate

• federal funds rate

• reserve funds rate

rate the Federal Reserve charges for loans to commercial banks

• net rate

• net worth

• bank rate

• discount rate

total assets minus total liabilities

• net worth

• gross

• domestic worth

• national worth