The
subprime financial crisis showed the need for increased financial
regulation, however, too much or poorly designed regulation could

2. Both____and______are Federal Reserve assets.

1.The three players in the money supply process include

10. The Federal Reserve Bank ofplays a special role in the Federal Reserve System because it houses the open market desk.

9. The Federal Reserve Banks are_______institutions since they are owned by the _______.

8. What makes the Federal Reserve so unique compared to other central banks around the world is its

7. The mandate for the monetary policy goals that has been given to the European Central Bank is an example of amandate.

6. Having interest rate stability

5. High unemployment is undesirable because it

4. Monetary policy is considered time-inconsistent because

3. A central feature of monetary policy strategies in all countries is the use of a nominal variable that monetary policymakers use as an intermediate target to achieve an ultimate goal such as price stability. Such a variable is called a nominal