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What does FOMO stand for and mean?
FOMO stand for Federal Open Market Operation
It means- The buying and selling of government securities(loans) and bonds
3 main functions of the federal reserve system
1. Bank is safe and sound
2. Provides financial and payment services
3. Healthy economy
What policy does FOMO use?
Monetary policy
3 main monetary tools by the feds. to influence the money supply
1.FOMO
2. Reserve Rate
3.Discount Rate
What does RR (reserve rate) mean?
Certain amount of money the bank cannot use unless an emergency
What does DR (Discount Rate) mean?
The money the federal reserve charges smaller banks to borrow money.
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