FUNK-WK5-Assignment-Monetary Policy Report

FUNK-WK5-Assignment-Monetary Policy Report - RunningHead:...

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Running Head:  Funk-Monetary Policy Report to the Congress   1 Monetary Policy Report to the Congress An Analysis Prepared for Professor Mike Lawrence The Economics of Business (BM 341) Marylhurst University, Marylhurst OR Prepared by Greg Funk Student of Marylhurst University Resident of Wilsonville, Oregon October 31, 2010
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Funk- Monetary Policy Report to the Congress   2
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Monetary Policy Report to the Congress On February 24, 2010, Chairman of the Federal Reserve Ben Bernanke delivered the Federal Reserves’ semiannual monetary policy report to congress as required by the Humphrey– Hawkins Full Employment Act of 1978. The report serves as a state of the economy and welfare for the United States. Section one focuses on the past and economic impact and section two reports on the current and/or recent financial and economic situations. Congress has oversight responsibilities of the Federal Reserve monetary policies. Using the authority Congress was given in the Constitution it created the Federal Reserve System and it is critical that Congress maintain watch over monetary policies. The report is part of that oversight. This paper provides a brief overview and my thoughts on the content of the report. I believe that the report is overall favorable about the economy, while pointing out that while the recovery has started, it will be slow. Overview of Monetary Policy Report dated July 21, 2010 Throughout the report there is evidence of expanded financial activity, however moderate it is, is positive when compared to the alternative. The expansion continued for the first half of 2010, after initially starting in the second half of 2009. After rising an average of 4 percent for
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