Question

1. What are the triple mandates of the Federal Reserve?

2. What are the three parts of the Federal Reserve system? Which of the 12 Federal Reserve Banks monitors the economic and financial condition of Ohio?

3. What are the two components of M1? What are the items on the asset side of the Fed’s balance sheet? What are the items on the liability side of the Fed’s balance sheet?

Answer 1

1 - The triple mandates of fed are as follows -

A- To ensure that the economy is at the full employment rate

B - To ensure the monetary stability in the economy and managing the supply of money

C - To manage the moderate and long term interest rates

2 - The three parts of federal reserve system are -

1 - Board of governors

2 - The federal reserve banks

3 - Federal open market commitee

The federal reserve bank of Cleveland manages economic and financial condition of OHIO