Describe the functions performed by Federal Reserve banks.Define the discount window and the discount rate.Describe the structure of the board of Governors of the federal Reserve System.What are the primary responsibilities of the Federal reverse Board? What are the tools used by the Federal Reserve to implement monetary policy? Why does the Federal Reserve rarely use the discount rate to implement its monetary policy? Which of the monetary tools available to the Federal Reserve is most often used? Why? Explain how a decrease in the discount rate affects credit availability and the money supply?
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