History of the Federal Reserve

The History of the federal officialeral fill-in outline
Over the past a few(prenominal) years our countries economy has taken a hard hit. Millions of deal have lost jobs, homes, and their life savings. During these hard economic propagation the federal backup arrangements Board of Governors has taken a lot of criticism over how the situation has been handled. occurrent Chairman of the Board, Ben Bernanke has been in the humanity view for some period now. Everyone watches the news and hears mixed stories and feels mixed emotions about the situation. Many of us may be unclear of what the Federal Reserve System is.
What is the Federal Reserve System?
The Federal Reserve System is known as the central bank of the United States. It is lots referred to as simply the Federal Reserve or the Fed. On December 23, 1913, President Woodrow Wilson signed the Federal Reserve Act into law and the Federal Reserve System was born. The Federal Reserve was created by Congress to provide our nation with a safer, more flexible, and more stable monetary and financial trunk (About the Fed, 2012).
The Federal Reserve System is an independent entity in spite of appearance the government. It operates autonomously within a framework of economic and financial policy objectives open up by the government.



Although its decisions are not ratified by the decision maker branch, it is subject to congressional oversight. For instance, its Chairman periodically reports to Congress. Its structure was intentional by Congress to provide a broad military position on economic activity in all part of the country and to create a balance between public and private control (About the Federal Reserve System, 2012. para. 1).
The responsibilities of the Federal Reserve System can be divided into four widely distributed areas. Those areas include managing our nations monetary policy in such a way were money and credit conditions in the economy fasten full employment and stable prices, regulating banks and financial institutions in a manner in which the safety of our...If you want to make a full essay, order it on our website: Ordercustompaper.com



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