Mike Bryan, vice president and senior economist at the Federal Reserve Bank of Atlanta, gives an economist's view of the role of the Federal Reserve System in setting monetary policy. He describes the tools of monetary policy and highlights the role that the banking system plays.The St. Louis FED has a lesson about the role of currency and FED operations here.
I tried drawing Mr. Bernanke with my Wacon Bamboo Tablet. I really struggled to make this. I finally had to use MS Paint to get the text in. I hope to use the tablet in the future to eliminate scanning, resizing, and all of the stuff that slows down the process.
As part of the review, can you name the three tools of Monetary Policy?
My answers are: open market operations, reserve ratio, and discount rate. Whether they are effective is another debate.