If the FOMC's Directive Indicates a Change in Monetary Policy

question 56

Multiple Choice

If the FOMC's directive indicates a change in monetary policy, the account manager at the Fed's Open Market Trading Desk must

• A)design dynamic open market operations.
• B)design defensive open market operations.
• C)seek approval of the change from the Secretary of the Treasury.
• D)seek approval of the change from a majority of the presidents of the Federal Reserve district banks.

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