lectur4-page1 - soundness of the nation's banking and...

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The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system; over the years, its role in banking and the economy has expanded. Today, the Federal Reserve's duties fall into four general areas: 1. Conducting the nation's monetary policy by influencing the money and credit conditions in the economy in pursuit of full employment and stable prices 2. Supervising and regulating banking institutions to ensure the safety and
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Unformatted text preview: soundness of the nation's banking and financial system and to protect the credit rights of consumers (Federal Reserve Regulations) 3. Maintaining the stability of the financial system, and containing systemic risk that may arise in financial markets 4. Providing certain financial services to the U.S. government, to the public, to financial institutions, and to foreign official institutions, including playing a major role in operating the nation's payments system. The current Federal Reserve Chairman is Ben Bernanke 1...
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