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- 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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Federal Reserve News
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NY Fed Takes Stakes in 2 AIG Units
To reduce its crushing debt, the American International Group said on Tuesday that it had completed its plan to award the Federal Reserve Bank of New York a ... (December 02, 2009)New York Times -
Fed's Plosser calls for higher interest rates
WASHINGTON (MarketWatch) -- Charles Plosser, the president of the Philadelphia Federal Reserve Bank, became the first top central bank official to call for ... (December 01, 2009)MarketWatch -
Fed must have a key role in banking reforms
Second it gives the Senate a role in selecting the 12 regional Federal Reserve bank presidents. Currently the system is that the Federal Reserve picks it ... (December 02, 2009)Biddeford Journal Tribune -
Fed's Plosser foresees growth — and inflation
The Federal Reserve needs to watch the economy, especially interest rates, the same way that all-time hockey great Wayne Gretzky watched the puck, ... (December 02, 2009)RocNow
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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
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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 piec...Amazon
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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 p...Amazon
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On Twitter Powered by Twitter
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Henry Faison has officially kicked off the Chamber's Economic Forecast Conference. Up first, the Federal Reserve's Jeffrey Lacker.
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@JPZuri Bilderburg group, the Rockafellers, the iLLUMINATI, the federal reserve! I know!
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Lets spend our energy Trying to Crack the Biggest Fraud of the Century!!! The practices of the Federal Reserve!!! haha..
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@cxs #Environment Lying sacks of shit! Audit the Federal Reserve Bank expose the true Criminals! H.R.1207
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Chasing Yield Is Never a Good Strategy – CBS MoneyWatch.com: The Federal Reserve has been highly successful in ac.. http://zixri.com/?p=1317
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