Be sure to exceed a minimum of 125 words for each requirement to ensure thorough depth and detail is utilized in demonstrating your understanding of the answer. When reading the Federal Reserve Economic Data (FRED), be careful when interpreting the figures. The charts depict dollar amounts in "billions of dollars;" therefore, $1,000 in billions is actually $1 TRILLION. How much money is contained in the M1 and M2 Money Supply, and describe how it is broken down into its various components Define and describe Fiat Money and discuss some of its advantages and disadvantages. Discuss the objectives of the Federal Reserve and how it achieves them. Define and explain what is meant by "Monetary Policy