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Who about Bank now serves several Europeall luul single central bank, there could be a single monetary policy across all countries. Counter-Point No. A global central bank could create a global monetary policy only if a single currency opinic 7. C terist be m 8. F of ec 9. Questions and Applications 1. The Fed Briefly describe the origin of the Federal Reserve System. Describe the functions of the Fed dis- trict banks. 2. FOMC What are the main goals of the Federal Open Market Committee (FOMC)? How does it attempt to achieve these goals? 3. Open Market Operations Explain how the Fed increases the money supply through open market operations. 4. Policy Directive What is the policy directive, and who carries it out? 5. Beige Book What is the Beige Book, and why is it important to the FOMC? 6. Reserve Requirements How is money supply growth affected by an increase in the reserve require ment ratio? used 10. mar sup! inst 11. Cris win the