Business, 03.04.2021 05:30 reginaldboyd28
Suppose you are a personal friend of the current chair of the Board of Governors of the Federal Reserve System (Jerome Powell, 2019). He comes over to your house for lunch and notices your couch. He is so struck by the beauty of your couch that he simply must have it for his office. He buys it from you for $1,000 and, since it is for his office, he pays you with a check drawn on the Federal Reserve Bank of New York.
1. Are there more dollars in the economy than before? Why?
2. Why do you suppose that the Federal Reserve doesn't buy and sell couches, real estate, and so on, instead of government bonds when they intend to change the money supply?
Answers: 1
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Suppose you are a personal friend of the current chair of the Board of Governors of the Federal Rese...
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