The Federal Reserve uses its policy tools to affect the availability and cost of credit in the economy as it conducts monetary policy, which largely affects employment and inflation.
<h3>What is monetary policy?</h3>
- The Federal Reserve's actions and communications to advance maximum employment, stable prices, and moderate long-term interest rates—the three economic objectives that the Congress has directed the Federal Reserve to pursue—combine to form monetary policy in the United States.
- Reserve requirements, the discount rate, and open market operations are the three instruments the Fed has historically used to implement monetary policy.
- The actions performed by a nation's central bank to manage the money supply in order to maintain economic stability are referred to as monetary policy.
- For instance, policymakers use instruments like interest rates, reserves, bonds, etc. to manage the flow of money in order to increase employment, GDP, and price stability.
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Alexander Hamilton was the founding father that implemented Adam Smith's policies as Treasury Secretary.
Alexander Hamilton was one of the foremost Founding Fathers as he was:
- the first Treasury Secretary
- founder of the Federalist party
- founder of the financial system of the United States
Alexander Hamilton credited Adam Smith with having espoused some of the policies that he drew inspiration from and these led him to come up with the financial system and establish trade with Britain whom he viewed as having an advantage in the production of certain goods(absolute advantage).
In conclusion, Alexander Hamilton paved the way for the financial system of a young country and kept it balanced such that it was able to move from strength to strength and he did so based on the principles of Adam West.
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When the government is using tyranny, which is unjust use of government power <span />
Great Britain required more taxation from colonies because of the... French and Indian war
-"The French and Indian War was a war between France and Britain. Britain won, but with a large price to pay. They turned to the colonists in the Americas and taxed them for money. This outraged the colonists, and sparked the formation of the saying "taxation without representation"."
