Teaching the New Tools of Monetary Policy

The Federal Reserve has changed the way it implements monetary policy. Today, the Fed operates in an ample reserves framework and uses the interest on reserve balances (IORB) rate as its primary policy tool. This webinar, led by St. Louis Fed Economic Education specialists, explains how the Fed uses IORB to influence the federal funds rate and how those changes affect the decisions of consumers and producers.

Descriptions on this page were excerpted from Federal Reserve Education's own published materials.