Boston Fed's Collins Says More Policy Tightening Needed

Boston Fed's Collins Says More Policy Tightening Needed

Assessment

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Business

University

Hard

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The transcript discusses the need to reduce inflation to a 2% target for price stability. It highlights the strength and resilience of the banking system, emphasizing its critical role in the economy. Recent bank failures are addressed, noting their potential to undermine confidence. The Federal Reserve, along with the Treasury and FDIC, took actions to bolster public confidence and protect the economy, while also reviewing what went wrong to improve future practices.

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5 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Why is it important to bring inflation down to a 2% target?

To increase consumer spending

To reduce government debt

To ensure price stability

To boost bank profits

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What role do banks play in the economy according to the transcript?

They primarily focus on international trade

They are responsible for setting interest rates

They are crucial for meeting savings and credit needs

They only serve large corporations

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What was the response of the Federal Reserve, Treasury, and FDIC to recent bank failures?

They ignored the failures

They took actions to strengthen public confidence

They increased interest rates

They provided bailouts to all banks

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

Who is leading the review to determine what went wrong with the failed banks?

The President

Vice Chair Bar

The CEO of the largest bank

The Secretary of State

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the ultimate goal of the review and changes in banking practices?

To eliminate small banks

To reduce taxes

To ensure a safe and stable banking system

To increase bank profits