3. Current structure of the Fed In the following table, use the selection menu to arrange the levels of power according to their positions in the power pyramid illustrating the str of the Federal Reserve. Power position (From top to bottom) 1 2 3 4 Which of the following describe th The FOMC meets at lea The FOMC implements Level of power Member Banks Federal Reserve Banks The Congress Board of Governors The president The Chair ommittee (the FOMC)? Check all that apply. ew York City

The Federal Reserve System and Open Market Operations_ Ask FRED The accompanying graph depicts the value of mortgage-backed securities held by the Federal Reserve over time. ALFRED IlMorgage-backed securities held by the Federal Reserve: All Maturities Vintage 2018-02-08 1,800,000 1,600,000 1,400,000 1,200,000 O 1.000,000 800,000 600,000 400,000 200,000 -200,000 2004 2006 2008 2010 2012 2014 2016 2005 Source: Board of Governors of the Federal Reserve System (US) a. What was the value of mortgage-backed securities the Fed held prior to 2009? Enter your answer in millions of dollars million

Which of the current parts of the Federal Reserve System was not a part of the Federal Reserve Act of 1913? O a. State chartered banks who choose to be members of the System O b. Nationally chartered banks Oc. Reserve Banks Od. Board of Governors

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