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Unformatted text preview: keep prices stable –  keep interest rates at a moderate level by regulaIng monetary policy –  supervise banks –  provide financial services –  conduct research on the United States economy and the economies in the surrounding region The US Federal Reserve System •  The Board of Governors is appointed by the President. •  It has both private and public components. •  It is independent from government; its policy decisions do not have to be approved by the President or Congress. The Bank of Canada •  The branch banking system was sufficient in Canada unIl the Depression. •  The financial situaIon necessitated a change in how Canada did business. •  A Royal Commission was set up in 1933 to study the need for a central bank. •  The commission recommended the establishme...
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