202 Homework #6: Federal Reserve System

  • Due Feb 28, 2021 by 11:59pm
  • Points 50
  • Submitting a text entry box or a file upload
  • Attempts 0
  • Allowed Attempts 2
  • Available Jan 5, 2021 at 12am - Mar 18, 2021 at 11:59pm
This assignment was locked Mar 18, 2021 at 11:59pm.

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Part I  The Federal Reserve System.  Go to the website of the Federal Reserve System Links to an external site..   Click on the tab, "About the Fed." 

1. The Federal Reserve System consists of 3 basic parts:  What are they? (2 points each)

 

 

2. List the current members of the Board of Governors (there are currently 6 members) (2 points each)

 

 

3. List the locations of the 12 regional Federal Reserve Districts Links to an external site.. (2 points each)

 

 

4.  Who is on the Federal Open Market Committee (List job titles -- not names of current members) (2 points each)

 

 

Part II.  Monetary Policy. The FOMC issues a press release (See News & Events Links to an external site. Tab) after each regularly scheduled meeting. Steps taken regarding monetary policy are contained in the “Implementation Note.” Read the “Implementation Note” for the December 16, 2020 meeting Links to an external site..

5. The current interest rate on required and excess reserves is ______________________.(2 points)

 

 

6. The target range for the Federal Funds rate is________________________. (2 points)

 

 

Part III. FRED Data. The Federal Reserve Bank of St. Louis Links to an external site. offers an excellent interactive tool on a wide range of economic data. (FRED Data Links to an external site.) 

7.  Type "Effective Federal Funds Rate" in the search window.  Important:  Be sure to click on the arrow for "3 other formats" and click on Monthly data, Not seasonally adjusted.  Find the monthly federal funds rate.  You will get a graph showing the Federal Funds Rates between 1955 and 2020.  Find the highest effective federal funds rate recorded between 1955 and the present? What month and year did it occur? (2 points)

 


(Note: You may hover the cursor over the graph at the highest point. It may also be easier to click on “Download.” You can then use the functions “max” and “min” in Excel.)

  1. What was the lowest effective federal funds rate recorded between 1955 and the present?
    ________________________( 2 points)

 

 

FYI  The Federal Reserve Bank of St. Louis has prepared a short summary Links to an external site. of the effects of Covid-19 on the economy and the actions taken by the Fed.  You may find it interesting.  

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