Exam 25: Policy Implementation

Total reserves are

Equilibrium in the market for reserves means which of the following?

_________________are 18 large banks and securities firms that deal directly with the Fed.

The Fed's System Open Market Account (SOMA) contains the Fed's dollar denominated assets acquired through

Outright purchases in the open market typically account for

The ____________________ is a statement issued by the FOMC to the New York Fed that directs the stance of monetary policy until the next FOMC meeting.

What kind of Fed activity is likely to be evident when the Fed desires to drain reserves out of the banking system and underscore a policy move toward restraint?

Which of the following is most likely to occur if the quantity demanded of reserves is less than the quantity supplied of reserves?

Repurchase agreements are

The Fed does not

When the manager of the Fed's open market account wants to drain reserves temporarily from the banking system, which of the following are used?

In general, the largest portion of outright purchases in the open market involves which of the following?

The supply of reserves is which of the following?

When the trading desk buys securities on a self-reversing, temporary basis, this is called which of the following?

The ____________________ is the difference between actual reserves and those projected to be needed to keep the fed funds rate at the targeted level.

What is the name of a repurchase agreement used by the Fed for the purpose of withdrawing reserves on a temporary basis?

Effects of the Fed's more openness in recent years are all of the following except that

Ceteris paribus, if the quantity demanded of reserves is less than the quantity supplied of reserves, the fed funds rates will

Which of the following statements is false?

In general, the Trading Desk manager uses ___________ when he wants to provide or absorb reserves over relatively long time spans.