VOCABULARY

1. the Federal Reserve System (the Fed) /ðə ˌfedərəl rɪˈzɜːv sɪstəm/: Hệ thống Dự
trữ Liên bang
https://dictionary.cambridge.org/dictionary/english/federal-reserve-system?
q=Federal+Reserve+System+
The organization that controls the supply of money in the US
E.g. The Federal Reserve System announced that it would close 18 of its check-
processing centers.

2. Deposit (v)  /dɪˈpɒzɪt/: gửi tiền

https://dictionary.cambridge.org/dictionary/english/deposit
A sum of money that is paid into a bank account
E.g. She made a deposit of $60 into her account.
 Bank deposits (n): tiền gửi ngân hàng

3. Depositor (n) /dɪˈpɒzɪtə(r)/: người gửi tiền

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https://www.oxfordlearnersdictionaries.com/definition/english/depositor?q=depositor
A person who puts money in a bank account
E.g. The bank can make either of two declarations: to meet its depositors'
withdrawals, it needs extra cash or it does not.

4. Reserve requirement (n) /rɪˈzɜːv rɪˈkwaɪərmənt/: dự trữ bắt buộc

https://dictionary.cambridge.org/dictionary/english/reserve-requirement?
q=Reserve+requirement+
The required percentage of reserves (deposits) that banks and thrifts must holdin cash
or in deposits at the central bank
E.g. Reserve requirements serve as a safeguard against a sudden and inordinate
demand for withrawals.

5. Alternative (n, adj) /ɔːlˈtɜːnətɪv/: thay thế

https://dictionary.cambridge.org/dictionary/english/alternative
One of two or more available possibilities
E.g. The opposition parties have so far failed to set out an alternative strategy.

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 6. Discount rate (n) /ˈdɪskaʊnt reɪt/: lãi suất chiết khấu
https://dictionary.cambridge.org/dictionary/english/discount-rate?q=Discount+rate
The interest rate charged by a central bank on loans to its member banks
E.g. A change in the discount rate is usually followed by similar changes in the
interest rates charged by banks and money markets.

7. Operation (n) /ˌɒpəˈreɪʃn/: hoạt động

https://dictionary.cambridge.org/dictionary/english/operation
The activity or work done in a company, or in an area of business or industry
E.g. The firm is looking to expand its operations overseas.
 Open market operations: hoạt động thị trường mở

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 8. Aggregate demand (n) /ˈæɡrɪɡət dɪˈmɑːnd/: tổng cầu
https://dictionary.cambridge.org/dictionary/english/aggregate-demand?
q=Aggregate+demand+
The sum of consumption expenditure, investment expenditure, government
expenditure, and net exports
E.g. The decline in credit availability reduced aggregate demand , which tends to
increase unemployment, a classic unintended consequence of the policy.

9. Approval (n)  /əˈpru·vəl/: sự chấp thuận

https://dictionary.cambridge.org/dictionary/english/approval?q=approvals
Agreement to, or permission for something, especially a plan or request
E.g. The new strategy has yet to receive approval from the board.

10.Restrictive (adj) /rɪˈstrɪk.tɪv/: thắt chặt, hạn chế

https://dictionary.cambridge.org/dictionary/english/restrictive
Tending or serving to restrict, limiting

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E.g. Through introducing restrictive measures like anti-takeover legislation,
corporate executives bolstered their own positions.

PREVIEW
1. What are two main tools of monetary policy?
The main tools of monetary policy are reserve requirements, discount rates and open
market operations.
2. What are the objectives (or goals) of monetary policy?
The objectives of monetary policy are to promote economic growth and to keep
inflation under control.