How does monetary policy affect the economy? We know that monetary policy has an important effect on the behaviour of the economy (e.g., income, employment, investment). Most theories of how exactly this happens rely on nominal rigidity in wages and (or) prices.
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A checking account is insured by the FDIC for up to $250,000. However, if you have that much money, you are likely better off to put the majority into a savings account or another type of investment tool. Your checking account should really only hold the money that you need for your daily transactions during the month.