What new tool of monetary policy did the Federal Reserve get in October, 2008? The ability to target the Federal-funds rate The power to pay interest on bank reserves. The right to tax excess reserves. The ability to close banks that were engaged in financial speculation Choose the most correct answer by clicking a button, or by typing a letter from the keyboard and pressing the tab key. What does the term "open-market operations" mean to an economist? The reduction in trade barriers among nations The globalization of the provision of services The purchase and sale by the Federal Reserve of financial assets The use of anti-trust law to reduce monopoly and increase competition Choose the most correct answer by clicking a button, or by typing a letter from the keyboard and pressing the tab key.