In what year was the Federal Reserve created?

Evaluate the impact of the Federal Reserve's open market operations on the economy during a recession.

How long is the term for a member of the Board of Governors?

What is the primary purpose of open market operations?

Why is the Federal Reserve considered the 'lender of last resort'?

Evaluate the effectiveness of the Federal Reserve's monetary policy in controlling inflation.

What is the purpose of discount loans?

How does the Federal Reserve control the money supply?

What is the primary function of the Federal Open Market Committee (FOMC)?

Analyze how a change in the federal funds rate can impact financial markets.