Lesson11 - Lesson11:TheFederalReserve System In this lesson...

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Lesson 11: The Federal Reserve  System In this lesson we will examine the structure and functions of the Federal Reserve System. We will briefly compare it to other central banks and will learn how it participates in the creation of money. Suggested Reading: RSU chapters 18-22 – a very helpful web site is http://woodrow.mpls.frb.fed.us/info/sys/
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Central Banking What is a central bank? How did central banking arise? The Bank of England and numerous copycats The American experience is different The first bank of the U.S. The free banking period The National Currency Act The Federal Reserve Act of 1913
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The Structure of the FED   (the official versus the actual) Board of Governors 7 members, appointed by + terms. Chairman serves 4 years at a time. 12 Federal Reserve Banks 9 directors each – who appoint the President (approved by BOG) Member Banks Policies Set reserve requirements Set discount rate and federal funds rate Conduct open market operations
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Lesson11 - Lesson11:TheFederalReserve System In this lesson...

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