Fed Quiz - May. 7, 2004

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Fed experts wanted
Think you know a lot about the central bank of the United States? Test your Fed IQ by taking our quiz.

Who is the longest serving Federal Reserve chairman?
Marriner Eccles
William Martin Jr.
Paul Volcker
Alan Greenspan

When was the Federal Reserve founded?
1908
1913
1929
1945

Investors have grown accustomed to a statement from the Fed after policy-makers meet but that hasn't always been the case. When did the central bank publicly issue its first policy statement?
May 20, 1987
Oct. 30, 1991
Feb. 4, 1994
Jun. 30, 1999

The target for the Fed funds rate is 2.50 percent, near the lowest level in more than 40 years. What's the highest level the overnight bank lending rate ever hit, even for just a day?
10.50 percent, 1969
13 percent, 1973
22 percent, 1980-81
14.35 percent, 1986-87

The Fed cut its fed funds target rate 13 times between 2001 and 2004 -- aggressive but not the most aggressive in the Fed's recent history. What year did the central bank's most aggressive rate-cutting campaign start? (From 1979 to 1989, the Fed targeted the discount rate, not the fed funds rate).
1974
1981
1989

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