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Focus on Economic Data: The Federal Reserve System and Monetary Policy - November 6, 2002
Source: Council for Economic Education (EconEdLink) | Type: Lesson
The Federal Open Market Committee decided today to lower its target for the federal funds rate by 50 basis points to 1 1/4 percent. In a related action, the Board of Governors approved a 50 basis point reduction in the discount rate to 3/4 percent.
Grades:
Concepts:
- Discount Rate
- Federal Reserve
- Fiscal Policy
- Interest Rate
- Monetary Policy
- Open Market Operations
- Reserve Requirements
Standards:
- Economics 11: Role of Money
- Economics 12: Role of Interest Rates
- Economics 15: Growth
- Economics 16: Role of Government
- Economics 18: Macroeconomy-Income/Employment, Prices
- Economics 19: Unemployment and Inflation
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