What are the feds three traditional monetary policy tools, Financial Management

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What are the feds three traditional monetary policy tools

1. What are the Fed's three traditional monetary policy tools? Briefly describe each of the three. Which is the most important?

2. What two new policy tools were available to the Fed in 2010?

3. In the federal funds market, what financial asset is traded? What is the federal funds rate, and how does it differ from the discount rate?

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