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Macroeconomic Impact on Business Operations
University of Phoenix
MBA 501: Forces Influencing Business in the 21st Century
October 16, 2006
The term "monetary policy" refers to the actions undertaken by a central bank, such as the Federal Reserve, to influence the availability and cost of money and credit to help promote national economic goals. The Federal Reserve Act of 1913 gave the Federal Reserve responsibility for setting monetary policy (Author Unknown, 2006 ΒΆ1).
The Federal Reserve controls the three tools of monetary policy--open market operations, the discount rate, and reserve requirements. The Board of Governors of the Federal Reserve System is responsible for the discount rate and reserve requirements, and the Federal Open Market Committee is responsible for open market operations. Using the three tools, the Federal Reserve influences the demand for, and supply of, balances that depository institutions hold at Federal Reserve Banks and in this way alters the......
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Title: Macroeconomic Impact On Business Operations
Approximate Word Count: 1726
Approximate Pages: 7 (250 words per double-spaced page)
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