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Fast Facts
- 7 member Board of Governors
- Current chairman: Ben Bernanke
- 12 Federal Reserve Banks
- Headquarters: Washington, DC
- 1913: Created by Federal Reserve Act
- Goals: Control inflation an ensure maximum employment
- Distributes currency and coins to banks
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The Federal Reserve System
The Federal Reserve System (Fed) Is the Central Bank of the United States. It is the banker's bank.In 1913, Congress passed the Federal Reserve Act “to provide for the establishment of Federal reserve banks, to furnish an elastic currency, to afford means of rediscounting commercial paper, to establish a more effective supervision of banking in the United States, and for other purposes.”
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Purpose and Function
The purpose of the Federal Reserve is to carry out the mandate of Congress by:1) conducting the nation's monetary policy to achieve maximum employment, stable prices, and moderate long term interest rates
2) regulating banking institutions to insure the safety and soundness of the nation's financial system and to protect consumers credit rights.
3) maintain a stable financial system and stable markets
4) provide financial services to banks, the U. S. Government, and foreign banking systems and to facilitate the nation's payment systems.
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Financial Panic
Between 1790 and the creation of the Federal Reserve in 1913, there were hundreds of local and around two dozen (depending on who counts them) national financial panics in the United States.Painful panics occurred in 1893 and 1907, but it was the speculation of the 1920s that caused the most destructive panic, the 'crash' of 1929.
Other Major events include:
William Duer Panic, 1792 Crisis of , 1837 Crisis of, 1857 Post-Civil War Crisis 1865-69 Crisis of 1793 Grant's Last Panic, 1884 Grover Cleveland 1893-95 Northern Pacific, 1901 The Rich Man's Panic, 1907 World War I, 1914 Great Crash, 1929 Kennedy Slide, 1962
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Related Pages on Mahalo
The New Deal | World Bank | Ben Bernanke | Interest Rates | George W. Bush | Mortgages | High-Risk Mortgages | Timothy Geithner | Ron Paul | Alan Greenspan | Black Monday | Credit Crisis | U.S. Department of the Treasury | Paul Volcker | Dan Tarullo | William Dudley | How to Tell When the Economy Is Getting Better -
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Federal Reserve News
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Federal Reserve Says Judge Erred in Requiring Bank Disclosure
The central bank contends that 231 pages of daily reports summarizing lending activity, which were prepared by the Federal Reserve Bank of New York for the ...Bloomberg (November 06, 2009) -
Dollar Falls as Job Losses Anchor Fed's Pledge to Keep Rate Low
7 (Bloomberg) -- The dollar fell against the euro on speculation the Federal Reserve will keep borrowing costs near zero into next year after the US ...Bloomberg (November 06, 2009) -
Gold Rises to Record in New York as Fed Keeps Lending Rates Low
4 (Bloomberg) -- Gold climbed to an all-time high after the Federal Reserve pledged to keep borrowing costs low for “an extended period,” sending the dollar ...Bloomberg (November 04, 2009) -
What's Shaping Gold Price
Earlier in the week we saw the International Monetary Fund announce they've sold 200 tonnes of gold to The Reserve Bank of India at a cost of $6.8 billion. ...Seeking Alpha (blog) (November 08, 2009)
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The Mahalo Top 7
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Wikipedia: Federal Reserve System
en.wikipedia.org -
Federal Reserve Research Sites
Links to Federal Reserve economic research sites.dallasfed.org -
Official Site: Board of Governors of the Federal Reserve
federalreserve.gov -
Federal Reserve Bank of San Francisco: About the Fed
frbsf.org -
Personal Financial Education
"In today's complex financial markets, financial education is central to helping consumers make better decisions for themselves and their families" Ben S. Bernankefederalreserveeducation.org (October 31, 2007)
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Wikipedia: Federal Reserve System
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User Recommended Links for Federal Reserve | Suggest a Link
St. Louis Fed: Economic Data - FREDFRED (Fed. Res. Econ. Data) is a great econ data site from Fed Res St. Louis
research.stlouisfed.org Recommended by walshga on August 15, 2007Looting the National TreasuryWe have in the country one of the most corrupt institutions the world has ever known. I refer to ...
westernfrontamerica.com Recommended by hansgruen on November 14, 2008 -
Federal Reserve on Amazon | View All
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Charlie Rose - Austan Goolsbee / Federal Reserve (August 14, 2008) - $24.95
A conversation with Austan Goolsbee, Senator Obama's economic adviser. || A discussion about the Federal Reserve with Harrison Hong, Wei Xiong and Markus Brunnermeier.This product is manufactured on demand using DVD-R recordable medi...
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With Gold Bars in Federal Reserve Bank, Guard Wearing Protective Aluminum Overshoes Framed Art Poster Print by Walter Sanders, 31x39 - $234.99
Art.com is the world's largest retailer of art prints, posters, photographs, and framed artwork. With our huge selection of over 400,000 prints, you'll easily find the perfect piece for your home, office, or classroom. Our art is printed on...
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Federal Reserve on Twitter Powered by Twitter
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Federal Reserve Bank Scam and Monetary System Videos http://ff.im/-b9S7b
@bcultral | November 08, 2009 07:17 PM -
$$ Federal Reserve from justinspaintingscom http://bit.ly/2zWaZZ
@politiconomic | November 08, 2009 06:53 PM -
Anybody discover where the IMF got 200 tons of GOLD to sell India.. Did the Federal Reserve transfer US GOLD to the IMF ?
@mentzer4senate | November 08, 2009 06:39 PM -
has just done a job in Federal Reserve Raid in #MobsterWorld http://bit.ly/43cCim
@MaThEuSNRZ | November 08, 2009 06:35 PM -
has just done a job in Federal Reserve Raid in #MobsterWorld http://bit.ly/43cCim
@NadiaJohns | November 08, 2009 06:31 PM
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