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M2: The medium-range monetary aggregate for the U.S. economy containing the combination of M1 (currency and checkable deposits) and short-term, small denomination near monies. M2 contains financial assets that either function directly as money for the U.S. economy or can be easily and quickly converted into money. The near monies added to M1 to derive M2 include savings deposits, certificates of deposit, money market deposits, and money market mutual funds. M2 is one of three monetary aggregates tracked and reported by the Federal Reserve System. The other two are designated M1 and M3.
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FEDERAL OPEN MARKET COMMITTEE A committee of the Federal Reserve Board that is charged with conducting open market operations and is more generally responsible for guiding monetary policy. It is comprised of the 7 members of the Board of Governors and the Presidents of 5 Federal Reserve District Banks. The Federal Open Market Committee (FOMC) meets about eight times a years, on average every six weeks, usually on a Tuesday, to set the course of monetary policy. The Chairman of the Federal Reserve Board is also the Chairman of the FOMC. The President of the New York Federal Reserve Bank is always on this committee and is invariably selected as the Vice Chairman of the FOMC.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at an auction trying to buy either a birthday gift for your father that doesn't look like every other birthday gift for your father or a green fountain pen. Be on the lookout for high interest rates.
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This isn't me! What am I?
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Francis Bacon (1561-1626), a champion of the scientific method, died when he caught a severe cold while attempting to preserve a chicken by filling it with snow.
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"The work of the individual still remains the spark that moves mankind forward. " -- Igor Sikorsky, aeronautical engineer
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CPI-W
Consumer Price Index-Urban Wage Earners and Clerical Workers
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