Monetary policy

Monetary policy is the process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure price stability and general trust in the currency.

Further goals of a monetary policy are usually to contribute to economic growth and stability, to lower unemployment, and to maintain predictable exchange rates with other currencies.

Monetary economics provides insight into how to craft optimal monetary policy.

Monetary policy is referred to as either being expansionary or contractionary, where an expansionary policy increases the total supply of money in the economy more rapidly than usual, and contractionary policy expands the money supply more slowly than usual or even shrinks it. Expansionary policy is traditionally used to try to combat unemployment in a recession by lowering interest rates in the hope that easy credit will entice businesses into expanding. Contractionary policy is intended to slow inflation in order to avoid the resulting distortions and deterioration of asset values.

Money

Money is any item or verifiable record that is generally accepted as payment for goods and services and repayment of debts in a particular country or socio-economic context, or is easily converted to such a form. The main functions of money are distinguished as: a medium of exchange; a unit of account; a store of value; and, sometimes, a standard of deferred payment. Any item or verifiable record that fulfills these functions can be considered money.

Money is historically an emergent market phenomenon establishing a commodity money, but nearly all contemporary money systems are based on fiat money. Fiat money, like any check or note of debt, is without use value as a physical commodity. It derives its value by being declared by a government to be legal tender; that is, it must be accepted as a form of payment within the boundaries of the country, for "all debts, public and private". Such laws in practice cause fiat money to acquire the value of any of the goods and services that it may be traded for within the nation that issues it.

Federal Reserve System

The Federal Reserve System‍—‌also known as the Federal Reserve or simply as the Fed‍—‌is the central banking system of the United States. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, largely in response to a series of financial panics, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded, and its structure has evolved. Events such as the Great Depression in the 1930s were major factors leading to changes in the system.

The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and as of 2009 also include supervising and regulating banks, maintaining the stability of the financial system and providing financial services to depository institutions, the U.S. government, and foreign official institutions. The Fed conducts research into the economy and releases numerous publications, such as the Beige Book.

Crash Course

Crash Course (also known as Driving Academy) is a 1988 made for television teen film directed by Oz Scott.

Plot

Crash Course centers on a group of high schoolers in a driver’s education class; many for the second or third time. The recently divorced teacher, super-passive Larry Pearl, is on thin ice with the football fanatic principal, Principal Paulson, who is being pressured by the district superintendent to raise driver’s education completion rates or lose his coveted football program. With this in mind, Principal Paulson and his assistant, with a secret desire for his job, Abner Frasier, hire an outside driver’s education instructor with a very tough reputation, Edna Savage, aka E.W. Savage, who quickly takes control of the class.

The plot focuses mostly on the students and their interactions with their teachers and each other. In the beginning, Rico is the loner with just a few friends, Chadley is the bookish nerd with few friends who longs to be cool and also longs to be a part of Vanessa’s life who is the young, friendly and attractive girl who had to fake her mother’s signature on her driver’s education permission slip. Kichi is the hip-hop Asian kid who often raps what he has to say and constantly flirts with Maria, the rich foreign girl who thinks that the right-of-way on the roadways always goes to (insert awesomely fake foreign Latino accent) “my father’s limo”. Finally you have stereotypical football meathead J.J., who needs to pass his English exam to keep his eligibility and constantly asks out and gets rejected by Alice, the tomboy whose father owns “Santini & Son” Concrete Company. Alice is portrayed as being the “son” her father wanted.

Policy

A policy is a deliberate system of principles to guide decisions and achieve rational outcomes. A policy is a statement of intent, and is implemented as a procedure or protocol. Policies are generally adopted by the Board of or senior governance body within an organization whereas procedures or protocols would be developed and adopted by senior executive officers. Policies can assist in both subjective and objective decision making. Policies to assist in subjective decision making would usually assist senior management with decisions that must consider the relative merits of a number of factors before making decisions and as a result are often hard to objectively test e.g. work-life balance policy. In contrast policies to assist in objective decision making are usually operational in nature and can be objectively tested e.g. password policy.

The term may apply to government, private sector organizations and groups, as well as individuals. Presidential executive orders, corporate privacy policies, and parliamentary rules of order are all examples of policy. Policy differs from rules or law. While law can compel or prohibit behaviors (e.g. a law requiring the payment of taxes on income), policy merely guides actions toward those that are most likely to achieve a desired outcome.