Let's learn about a specific aspect of the monetary system in this video: the Fed's tools for monetary control. We'll first define money and the monetary system (including the compounds M1 and M2), then we'll learn about the role of the Fed in controlling the banking system and regulating the money supply. Specifically, we'll learn about three kinds of monetary policies they have: open market operations, the regulation of reserve requirements for banks, and the discount rate.
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00:00 Intro
00:45 Money and its characteristics
04:15 The monetary system in the U.S.
04:47 Central banks and the Fed
08:03 The Fed's tools of monetary control
