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The Federal Reserve terms
The Federal Reserve under chair Kevin Warsh: interest-rate decisions, the inflation fight and the White House's pressure on the central bank.
Central bank digital currency A digital form of a country's currency issued directly by the central bank, a proposal opposed by many conservatives on privacy grounds. Dual mandate The Federal Reserve's congressionally assigned goals of maximum employment and stable prices (with moderate long-term interest rates). Federal funds rate The interest rate at which banks lend reserve balances to each other overnight, the Federal Reserve's main policy lever. Gold standard A monetary system in which a currency's value is tied to a fixed amount of gold. Monetarism A school of economics, led by Milton Friedman, that holds the money supply is the chief influence on inflation and the business cycle. Monetary policy The actions of a central bank, such as setting interest rates, to influence money, credit and economic activity. Quantitative easing A policy in which a central bank buys government bonds and other securities in large amounts to lower long-term interest rates and support the economy.