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The Fed’s Non-quant: Beige Book November 16, 2007 Toby Madden

The Fed’s Non-quant: Beige Book November 16, 2007 Toby Madden. Federal Reserve Bank of Minneapolis. Disclaimer. The views expressed here are the presenter's and not necessarily those of the Federal Reserve Bank of Minneapolis or the Federal Reserve System. Fed’s Duties. Payments System

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The Fed’s Non-quant: Beige Book November 16, 2007 Toby Madden

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  1. The Fed’s Non-quant:Beige BookNovember 16, 2007Toby Madden Federal Reserve Bank of Minneapolis

  2. Disclaimer The views expressed here are the presenter's and not necessarily those of the Federal Reserve Bank of Minneapolis or the Federal Reserve System.

  3. Fed’s Duties • Payments System • Safety and Soundness • Monetary Policy

  4. Additional Resources • Region Magazine • fedgazette • Minneapolisfed.org • toby.madden@mpls.frb.org

  5. Beige Book What When Who How Why

  6. What Summary of Commentary on Current Economic Conditions by Federal Reserve District Anecdotal Recent Economic Sector By District

  7. When 8x per year Released ~ 2 weeks b4 FOMC Cut off 9 days b4 release Compiled for 2 weeks

  8. Who Each district’s economists Part of 3 peoples jobs in Mpls

  9. How Fed Surveys/Polls News Advisory Councils/BOD Contacts Associations

  10. Why Timely Stats < turning points Flexible

  11. Who Wants to Win Toby’s Money?

  12. To tighten the money supply, the Federal Reserve a.decreases the reserve ratio. b.purchases government securities in the open market. c.sells government securities in the open market. d.decreases the discount rate.

  13. To tighten the money supply, the Federal Reserve b.purchases government securities in the open market. c.sells government securities in the open market.

  14. To tighten the money supply, the Federal Reserve c.sells government securities in the open market.

  15. A reduction in aggregate demand is likely to result in: a.inflation. b.recession. c.a sudden spurt of growth in production. d.increased consumption of crushed rock for concrete foundations.

  16. A reduction in aggregate demand is likely to result in: a.inflation. b.recession.

  17. A reduction in aggregate demand is likely to result in: b.recession.

  18. What is the cost of a “Free Lunch”?

  19. What is the cost of a “Free Lunch”? Opportunity Cost

  20. What rank did Minnesota have for high school attainment in 2006? • A - 1st • B - 5th • C - 10th • D - 20th

  21. What rank did Minnesota have for high school attainment in 2006? • A - 1st • B - 5th

  22. What rank did Minnesota have for high school attainment in 2006? • A - 1st

  23. What rank did Minnesota have for total high school spending per student in 2004? • A - 6th • B - 11th • C - 16th • D – 21st

  24. What rank did Minnesota have for total high school spending per student in 2004? • C - 16th • D – 21st

  25. What rank did Minnesota have for total high school spending per student in 2004? • D – 21st

  26. What was the 2006 population in Minnesota (according to the U.S. Census website)? • A – 5,167,101 • B – 5,476,892 • C – 5,811,739 • D – 6,032,903

  27. What was the 2006 population in Minnesota (according to the U.S. Census website)? • A – 5,167,101 • C – 5,811,739

  28. What was the 2006 population in Minnesota (according to the U.S. Census website)? • A – 5,167,101

  29. QUESTIONS

  30. What are the expected changes in your company’s employment in 2008?UpSameDown

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