Across
- 2. Currency in circulation plus checkable deposits
- 4. Market for short‑term financial assets
- 8. Decreases money supply and raises rates
- 10. Market for borrowing and saving
- 12. M1 plus savings deposits and money market funds
- 14. Interest rate before inflation
- 15. Fed buying or selling government bonds
- 16. Percent of deposits banks must keep
- 20. Rate banks charge each other overnight
Down
- 1. Nominal rate minus inflation
- 3. Increases money supply and lowers rates
- 5. Market for long‑term financial assets
- 6. Maximum increase from one deposit
- 7. Money backed by government decree
- 9. Funds banks can loan out
- 11. Interest‑paying loan to government or firms
- 13. Rate the Fed charges banks
- 17. Portion of deposits banks must hold
- 18. Central bank of the United States
- 19. Ease of converting an asset into cash