Category	Value
Total Reserves (asset for private banks, kept at Federal Reserve)	$100 Billion
Currency (assets for firms, households)	$50 Billion
Value of Euros in the U.S. (assets for private banks, firms, households, etc.)	$1 Billion
U.S. Gov't bonds (assets for private banks, firms, households, etc.)	$30 Billion
Demand deposits (liability for private banks)	$1 Trillion
Corporate and consumer loans (asset for private banks)	$400 Billion
Mortgage loans (asset for private banks)	$485 Billion
Certificates of Deposit, CDs (liability for private banks)	$10 Billion
Reserve requirement on demand deposits	.10

If Federal Reserve buys $20 Billion in bonds from private banks:

1. Is this monetary policy or fiscal policy? Contractionary or expansionary? Explain