On the ground floor of the Federal Reserve building in Washington, DC, there is an electronic game which tests a visitor’s skill at setting interest rates. You have to decide how to respond to events such as rising inflation or a stockmarket crash. If you get all the answers right, the machine declares you the next Fed chairman. In real life, because of huge uncertainties about data and how the economy works, there is no obviously right answer to the question of when to change interest rates. Nor is there any easy test of who will make the best Fed chairman. So who would The Economist select for the job
Alan Greenspan will retire as Fed chairman on January 31st, after a mere 181/2 years in the job. So George Bush needs to nominate a successor soon. Mr. Bush has a penchant for picking his pals to fill top jobs: last week he nominated his personal lawyer Harriet Miers to the Supreme Court. But his personal bank manager really would not cut the mustard
A. What is the content of the electronic game
B. Who could fill Alan Greenspan’s shoes
C. How to respond to events such as rising inflation
D. Who could change interest rates
Federal Reserve System, central banking
system of the United States, popularly called the Fed. A central bank serves as
the banker to both the banking community and the government; it also issues the
national currency, conducts monetary policy, and plays a major role in
supervision and regulation of banks and bank holding companies. In the U.S.
these functions are the responsibilities of key officials of the Federal Reserve
System: the Board of Governors, located in Washington, D.C., and the top
officers of the 12 district Federal Reserve banks, located throughout the
nation. The Fed’s actions, described below, generally have a significant effect
on the U.S. interest rates and, subsequently, on stock, bond, and other
financial markets. The Federal Reserve’s basic powers are concentrated in the Board of Governors, which is param A. functions as China Bank B. is the counterpart of People’s Bank of China C. is subject to the banking community and government D. has 13 top officers who can influence the American financial market [填空题]The Federal Reserve System
Correct Commonly known as the Federal Reserve Bank or the "Fed", this is the central Which bank of the United States which founded in 1913, it determines the Reserve 34 Requirement within limits set out by the US Congress. The function of the Fed is 35 economic stabilization operate through the management of the national money 36 supply. The Federal Reserve System comprises with a board of governors with 37 seven members both stationed in Washington D. C. The responsibilities of the 38 Fed system are carried out through 12 Regional Federal Reserve Banks 39 controlling. The members of the Fed include the commercial banks, i.e. those 40 with the national chartered commercial banks and approximately to 10% of the 41 State-chartered commercial banks. These member banks buy stock from their 42 Regional Federal Reserve Banks is the larger body of the Fed system which 43 determines what the interest rates of the U 我来回答: 提交
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