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ECO 372 powerpoint
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The Federal Reserve, A.K.A “The Fed” Presentation
Jon ClarksonECO 372Dr. Baker
10 March 2014
What is the Feds MissionThe Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system. Over the years, its role in banking and the economy has expanded.
Today, the Federal Reserve's duties fall into four general areas:
conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of consumers
maintaining the stability of the financial system and containing systemic risk that may arise in financial markets
providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
What it really does!
The Fed Board of Governors
The Federal Reserve Board of Governors consists of seven members appointed by the President of the United States and approved by the U.S. Senate. Appointment is for a maximum 14 yr. term. From left: Kevin Warsh; Donald Kohn; Randall Kroszner (succeeded by Daniel Tarullo in January); Elizabeth Duke; Ben Bernanke, former chairman (succeeded by Janet Yellen)
There are 12 “Fed” Districts
map courtesy of federalreserve.orgJK
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