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BOARD OF GOVERNORS: The policy-making head of the Federal Reserve System. The Board is comprised of 7 members, each serving 14-year terms, with one term expiring every two years. This Board, when joined by five Federal Reserve District Bank presidents forms the Federal Open Market Committee. The Chairman of the Board of Governors is considered to be one of the, if not THE, most powerful individuals in the economy.

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SEVENTH RULE OF COMPLEXITY

The seventh of seven basic rules of the economy, stating that every action in the complex world has direct and often intended consequences combined with indirect and probably unintended effects.

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PURPLE SMARPHIN
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Today, you are likely to spend a great deal of time at a dollar discount store hoping to buy either a T-shirt commemorating the 2000 Olympics or a genuine fake plastic Tiffany lamp. Be on the lookout for fairy dust that tastes like salt.
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More money is spent on gardening than on any other hobby.
"You don't have to see the top of the staircase to take the first step.¾ "

-- Martin Luther King, civil rights leader

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