Which of the Following Policy Tools Is Directly Controlled by the Trading

question 209

Multiple Choice

Which of the following policy tools is directly controlled by the Trading Desk at the Federal Reserve Bank of New York?

• A) the spread between the discount rate and the federal funds rate
• B) the spread between the federal funds rate and the interest rate on banks' required reserves
• C) the required reserve ratio
• D) open market sales and purchases

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