The Federal Reserve System: Principles and Practices, History of

The federal officialeral bear System, or Americas central bank, was created on capitulation 23, 1913. It has created and fulfilled many services for the government and people deep d take the United States. These services include the regulation of financial institutions, maintaining of the payments precis and consumer protection laws, and conducting and overseeing monetary policy. The feed has several unique features which sets it by from other financial institutions. In essence, the Fed is a de centralize, trim bank. It is composed of twelve different districts, each of which represents a designated contribution within the United States. Because the goals of the banks were to serve the individuals, these districts ensured that no bank would plump out too large and powerful to overtake others while ointment being responsive toward local community needs. After the capacious Depression, Congress transferred power to the federal official backwardness wit in Was hington D.C.; this made the Fed more of a centralized unit. Private corporations and individuals argon still fit to own shares--similar to stock--in the Fed. Thus, in private owned piece banks are able to have rank input into the actions of the Fed and restrict the lineament of government. This all would not have been accomplished had it not been for a well-structured organization. The structure of the Fed is indeed unique.

A seven-member Board of Governors controls the activities of the Fed. It in like manner sets the policies for the Federal Reserve and its member banks to follow, and regulates certain op erations of state-chartered member commercia! l banks. The Federal Open Market Committee regulates virtually of the decisions regarding the growth of the capital supply and interest rates; these are ways in which monetary policy is defined. These branches of the Federal Reserve System adjudge out most of the tasks given to the Fed. The immemorial goal of the Fed is... If you want to get a wide essay, order it on our website: OrderCustomPaper.com

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