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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.
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FISCAL POLICY Control over government spending and taxes by a central government which is used to stabilize business cycles, reduce unemployment and inflation, and promote economic growth. In the United States fiscal policy is primarily undertaken at the federal level through acts of Congress and actions by the President. However, state and local governments also undertake fiscal policy to stabilize their local macroeconomies. The government sector has three alternative tools in the use of fiscal policy--government purchases, taxes, and transfer payments. An alternative to fiscal policy is monetary policy.
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John Maynard Keynes was born the same year Karl Marx died.
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"The difference between the impossible and the possible lies in a person's determination. " -- Tommy Lasorda
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BLS
Bureau of Labor Statistics
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