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The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the New York (state), State of New York, the 12 northern counties of New Jersey, Fairfield County, Connecticut, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. Located at Federal Reserve Bank of New York Building, 33 Liberty Street in Lower Manhattan, it is by far the largest (by assets), the most active (by volume), and the most influential of the Reserve Banks. The Federal Reserve Bank of New York is solely responsible for implementing monetary policy on behalf of the Federal Open Market Committee and acts as the market agent of the entire Federal Reserve System (as it houses the Open Market Trading Desk and manages System Open Market Account). It is also the sole fiscal agent of the U.S. Department of the Treasury, the bearer of the Treasury's General Account, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
FRBNY Logo
The Federal Reserve Bank of New York is one of the 12 Federal Reserve Banks of the United States. It is responsible for the Second District of the Federal Reserve System, which encompasses the New York (state), State of New York, the 12 northern counties of New Jersey, Fairfield County, Connecticut, Fairfield County in Connecticut, Puerto Rico, and the U.S. Virgin Islands. Located at Federal Reserve Bank of New York Building, 33 Liberty Street in Lower Manhattan, it is by far the largest (by assets), the most active (by volume), and the most influential of the Reserve Banks. The Federal Reserve Bank of New York is solely responsible for implementing monetary policy on behalf of the Federal Open Market Committee and acts as the market agent of the entire Federal Reserve System (as it houses the Open Market Trading Desk and manages System Open Market Account). It is also the sole fiscal agent of the U.S. Department of the Treasury, the bearer of the Treasury's General Account, an ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lower Manhattan
Lower Manhattan (also known as Downtown Manhattan or Downtown New York) is the southernmost part of Manhattan, the central borough for business, culture, and government in New York City, which is the most populated city in the United States with over 8.8 million residents as of the 2020 census. Lower Manhattan is defined most commonly as the area delineated on the north by 14th Street, on the west by the Hudson River, on the east by the East River, and on the south by New York Harbor. The Lower Manhattan business district, known as the Financial District (FiDi), forms the main core of the area below Chambers Street. It is a leading global center for commerce, housing Wall Street, the New York Stock Exchange, and the Federal Reserve Bank of New York. The city itself originated at the southern tip of Manhattan Island in 1624 at a point that now constitutes the present-day Financial District. The population of the Financial District alone has grown to an estimated 61,000 resid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Monetarist
Monetarism is a school of thought in monetary economics that emphasizes the role of governments in controlling the amount of money in circulation. Monetarist theory asserts that variations in the money supply have major influences on national output in the short run and on price levels over longer periods. Monetarists assert that the objectives of monetary policy are best met by targeting the growth rate of the money supply rather than by engaging in discretionary monetary policy.Phillip Cagan, 1987. "Monetarism", '' The New Palgrave: A Dictionary of Economics'', v. 3, Reprinted in John Eatwell et al. (1989), ''Money: The New Palgrave'', pp. 195–205, 492–97. Monetarism is commonly associated with neoliberalism. Monetarism today is mainly associated with the work of Milton Friedman, who was among the generation of economists to reject Keynesian economics and criticise Keynes's theory of fighting economic downturns using fiscal policy ( government spending). Friedman and An ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Liquidity
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Liquidity is a concept in economics involving the convertibility of assets and obligations. It can include: * Market liquidity, the ease with which an asset can be sold * Accounting liquidity, the ability to meet cash obligations when due * Liquid capital, the amount of money that a firm holds * Liquidity risk, the risk that an asset will have impaired market liquidity See also *Liquid (other) *Liquidation (other) Liquidation is the conversion of a business's assets to money in order to pay off debt. Liquidation may also refer to: * Murder * Fragmentation (music), a compositional technique * ''Liquidation'' (miniseries), a Russian television series See a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
A Tract On Monetary Reform
''A Tract on Monetary Reform'' is a book by John Maynard Keynes, published in 1923. Keynes presented an argument in favor of a policy that would try to stabilize the domestic price level. He argued that the Bank of England had the policy tools available to provide a semblance of price stability through its stance on interest rates and its capacity to manage the reserves of the banking sector. Keynes believed that domestic price stability was accompanied by exchange rate flexibility. After years of experience, he did not favor floating exchange rates and proposed what is today called a crawling peg In macroeconomics, crawling peg is an exchange rate regime that allows Currency appreciation and depreciation, depreciation or appreciation to happen gradually. It is usually seen as a part of a fixed exchange rate regime. The system is a method .... Reference {{DEFAULTSORT:Tract on Monetary Reform 1923 non-fiction books Keynesian economics Books by John Maynard Keynes ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
John Maynard Keynes
John Maynard Keynes, 1st Baron Keynes, ( ; 5 June 1883 – 21 April 1946), was an English economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments. Originally trained in mathematics, he built on and greatly refined earlier work on the causes of business cycles. One of the most influential economists of the 20th century, he produced writings that are the basis for the school of thought known as Keynesian economics, and its various offshoots. His ideas, reformulated as New Keynesianism, are fundamental to mainstream macroeconomics. Keynes's intellect was evident early in life; in 1902, he gained admittance to the competitive mathematics program at King's College at the University of Cambridge. During the Great Depression of the 1930s, Keynes spearheaded a revolution in economic thinking, challenging the ideas of neoclassical economics that held that free markets would, in the short to medium term, a ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gold Standard
A gold standard is a monetary system in which the standard economic unit of account is based on a fixed quantity of gold. The gold standard was the basis for the international monetary system from the 1870s to the early 1920s, and from the late 1920s to 1932 as well as from 1944 until 1971 when the United States unilaterally terminated convertibility of the US dollar to gold, effectively ending the Bretton Woods system. Many states nonetheless hold substantial gold reserves. Historically, the silver standard and bimetallism have been more common than the gold standard. The shift to an international monetary system based on a gold standard reflected accident, network externalities, and path dependence. Great Britain accidentally adopted a ''de facto'' gold standard in 1717 when Sir Isaac Newton, then-master of the Royal Mint, set the exchange rate of silver to gold too low, thus causing silver coins to go out of circulation. As Great Britain became the world's leading financ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Security (finance)
A security is a tradable financial asset. The term commonly refers to any form of financial instrument, but its legal definition varies by jurisdiction. In some countries and languages people commonly use the term "security" to refer to any form of financial instrument, even though the underlying legal and regulatory regime may not have such a broad definition. In some jurisdictions the term specifically excludes financial instruments other than equities and Fixed income instruments. In some jurisdictions it includes some instruments that are close to equities and fixed income, e.g., equity warrants. Securities may be represented by a certificate or, more typically, they may be "non-certificated", that is in electronic ( dematerialized) or "book entry only" form. Certificates may be ''bearer'', meaning they entitle the holder to rights under the security merely by holding the security, or ''registered'', meaning they entitle the holder to rights only if they appear on a secur ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Open Market Operation
In macroeconomics, an open market operation (OMO) is an activity by a central bank to give (or take) liquidity in its currency to (or from) a bank or a group of banks. The central bank can either buy or sell government bonds (or other financial assets) in the open market (this is where the name was historically derived from) or, in what is now mostly the preferred solution, enter into a repo or secured lending transaction with a commercial bank: the central bank gives the money as a deposit for a defined period and synchronously takes an eligible asset as collateral. Central banks usually use OMO as the primary means of implementing monetary policy. The usual aim of open market operations is—aside from supplying commercial banks with liquidity and sometimes taking surplus liquidity from commercial banks—to manipulate the short-term interest rate and the supply of base money in an economy, and thus indirectly control the total money supply, in effect expanding money or contra ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
World War I
World War I (28 July 1914 11 November 1918), often abbreviated as WWI, was one of the deadliest global conflicts in history. Belligerents included much of Europe, the Russian Empire, the United States, and the Ottoman Empire, with fighting occurring throughout Europe, the Middle East, Africa, the Pacific, and parts of Asia. An estimated 9 million soldiers were killed in combat, plus another 23 million wounded, while 5 million civilians died as a result of military action, hunger, and disease. Millions more died in genocides within the Ottoman Empire and in the 1918 influenza pandemic, which was exacerbated by the movement of combatants during the war. Prior to 1914, the European great powers were divided between the Triple Entente (comprising France, Russia, and Britain) and the Triple Alliance (containing Germany, Austria-Hungary, and Italy). Tensions in the Balkans came to a head on 28 June 1914, following the assassination of Archduke Franz Ferdin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve Act
The Federal Reserve Act was passed by the 63rd United States Congress and signed into law by President Woodrow Wilson on December 23, 1913. The law created the Federal Reserve System, the central banking system of the United States. The Panic of 1907 convinced many Americans of the need to establish a central banking system, which the country had lacked since the Bank War of the 1830s. After Democrats won unified control of Congress and the presidency in the 1912 elections, President Wilson, Congressman Carter Glass, and Senator Robert Latham Owen crafted a central banking bill that occupied a middle ground between the Aldrich Plan, which called for private control of the central banking system, and progressives like William Jennings Bryan, who favored government control over the central banking system. Wilson made the bill a top priority of his New Freedom domestic agenda, and he helped ensure that it passed both houses of Congress without major amendments. Later, President ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Benjamin Strong Jr
Benjamin ( he, ''Bīnyāmīn''; "Son of (the) right") blue letter bible: https://www.blueletterbible.org/lexicon/h3225/kjv/wlc/0-1/ H3225 - yāmîn - Strong's Hebrew Lexicon (kjv) was the last of the two sons of Jacob and Rachel (Jacob's thirteenth child and twelfth and youngest son) in Jewish, Christian and Islamic tradition. He was also the progenitor of the Israelite Tribe of Benjamin. Unlike Rachel's first son, Joseph, Benjamin was born in Canaan according to biblical narrative. In the Samaritan Pentateuch, Benjamin's name appears as "Binyamēm" (Samaritan Hebrew: , "son of days"). In the Quran, Benjamin is referred to as a righteous young child, who remained with Jacob when the older brothers plotted against Joseph. Later rabbinic traditions name him as one of four ancient Israelites who died without sin, the other three being Chileab, Jesse and Amram. Name The name is first mentioned in letters from King Sîn-kāšid of Uruk (1801–1771 BC), who called himself “King ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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