The Federal Reserve Portfolio: Statements by Individual Economists

achieve aggregate liquid assets amount appropriate banking system billion changes commercial banks Committee commodities Congress cost currency debt management demand deposits desirable dollar effect eral Reserve excess expansion Fed's portfolio Federal debt Federal Reserve Act Federal Reserve banks Federal Reserve holdings Federal Reserve notes Federal Reserve portfolio Federal Reserve System funds gold Government debt gross national product growth holdings of Government holdings of U.S. important income increase instruments interest rates issues liabilities loans long-term member bank reserves ment monetary authorities monetary policy money stock money supply objectives obligations open market operations open market purchases Patman percent portfolio of Government present problem PROFESSOR OF ECONOMICS question rediscounting reduce relative reserve ratio reserve requirements Reserve System's portfolio Reserve's responsibilities result sector sell short-term stability STATEMENT tion transfer Treasury for cancellation types of assets U.S. Government securities U.S. Treasury value of money