Summer Homework Crossword

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Across
  1. 3. Why do banks hold reserves?
  2. 4. IORB role in fed funds rate?
  3. 6. The federal funds rate which results maximum employment and 2% inflation is _____.
  4. 9. Main goal of OMO?
  5. 12. The Fed is viewed as the _______ of last resort.
  6. 14. In March, 2020 the Fed eliminated the requirement of banks to hold _________.
  7. 16. Discount rate above or below fed funds?
  8. 18. Repo effect on reserves?
  9. 20. Why was 2007–2008 easing ineffective?
  10. 22. Number of Fed Board Governors?
  11. 23. How often does FOMC meet yearly?
  12. 24. Who earns IORB?
Down
  1. 1. Fed legislative goals?
  2. 2. The difference between the ytm of a Treasury security and a TIPS with identical maturities is the market’s expectation of ______________?
  3. 5. The MP curve slope follows the __________ principle.
  4. 7. Number of FOMC voting members?
  5. 8. OMO purchase effect on reserves?
  6. 10. Reverse repo effect on reserves?
  7. 11. Which Federal Reserve Bank President is a permanent member of the FOMC?
  8. 13. The purchase of government sponsored mortgage securities was criticized for favoring the ______________ industry.
  9. 15. OMO sale effect on reserves?
  10. 17. Discount rate borrowing source?
  11. 19. Quantitative tightening effect on MP curve?
  12. 21. Lower bound of fed funds rate?