Fed FAQ

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[Marriner S. Eccles Federal Reserve Board Building]
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Fed FAQ (Slate)

Janet Yellen’s nomination as Fed Chair offers an opportunity to remind us all that the Fed manipulates market expectations. A column in Slate offers 20 questions (and answers) to advise us what the U.S. Federal Reserve Bank is and why its chair is important. Questions include: what is a central bank, what are reserves and what’s the rationale for quantitative easing.

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It may not indicate that calmer heads are prevailing, but there are signs that House Republicans and Democrats are inching toward a short-term agreement to increase the U.S. debt ceiling and avoid a default.

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