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FEDERAL RESERVE DEPOSITS: Deposits that commercial banks keep with the Federal Reserve System. Federal Reserve deposits, together with vault cash are the bank reserves that banks use to back up customers' deposits and otherwise conduct daily transactions, such as processing checks and satisfying customers cash withdrawals. Federal Reserve deposits play three key roles in the banking system. One, they are used by the Federal Reserve system to process of clear checks. Two, they are loaned between commercial banks through the federal funds market. Three, they are used by the Federal Reserve System to control the money supply.
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INFERIOR GOOD A good for which a change in income causes an opposite change in demand. That is, an increase in income causes a decrease in demand and a decrease in income causes an increase in demand. The income elasticity of demand for an inferior good is negative. An inferior good is one of two alternatives falling within the buyers' income demand determinant. The other is a normal good.
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YELLOW CHIPPEROON
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Today, you are likely to spend a great deal of time visiting every yard sale in a 30-mile radius hoping to buy either a packet of address labels large enough for addresses of both the sender and the recipient or a key chain with a built-in flashlight and panic button. Be on the lookout for telephone calls from former employers.
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In the Middle Ages, pepper was used for bartering, and it was often more valuable and stable in value than gold.
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"A man is not finished when he is defeated. He is finished when he quits. " -- President Richard Nixon
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NYFE
New York Futures Exchange
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