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DISCOUNT RATE: The interest rate that the Federal Reserve System charges for loans to banks. To ensure that our nation's banks retain their liquidity and remain in business, the Federal Reserve System stands ready to lend bank reserves on a moment's notice to any bank. The discount rate is the interest rate the Federal Reserve System charges for these loans. Like any interest rate, when it goes up (or down) it discourages (or encourages) borrowing. In principle, the Fed can use the discount rate to control our nation's money supply.
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ECONOMICS A social science that studies the allocation of limited resources used to produce the goods and services that satisfy unlimited consumer wants and needs. Economics is one of several social sciences (others are sociology, political science, and anthropology) which applies the scientific method to human behavior. The distinguishing feature of economics is a concern with the fundamental problem of scarcity--unlimited wants and needs and limited resources. Economics is commonly divided into two branches--macroeconomics and microeconomics.
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YELLOW CHIPPEROON
[What's This?]
Today, you are likely to spend a great deal of time looking for the new strip mall out on the highway wanting to buy either a case of blank recordable DVDs or a pair of red goulashes with shiny buckles. Be on the lookout for jovial bank tellers.
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Lombard Street is London's equivalent of New York's Wall Street.
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"As the births of living creatures at first are ill-shapen, so are all innovations, which are the births of time. " -- Sir Francis Bacon, philosopher
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AMB
Adjusted Monetary Base
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