The Federal Reserve

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What is the goal of the Federal Reserve?

to achieve stable prices, full employment, and economic growth

What are the responsibilities of the Federal Reserve?

monetary policy, regulate financial institutions, services to depository institutions, federal government, and the public

How many Federal Reserve regions are there?


What Federal Reserve region are we located in?

region 5

What do the Federal Reserve banks and branch offices do?

carry out the day-to-day responsibilities of the Federal Reserve System

Who appoints the Board of Governors of the Federal Reserve System?

the President, then they are confirmed by the Senate

What do the Board of Governors provide for the Federal Reserve System?


The Federal Open Market Committee (FOMC)

is responsible for making monetary policy decisions

Who makes up the FOMC?

members of the Board of Governors AND presidents of the twelve reserve banks

Monetary Policy

can lead to changes in the supply of money and the availability of credit

What can changes in the money supply influence?

overall levels of spending, employment, and prices in the economy

What is the major policy tool of the Federal Reserve?

open market operations (purchases and sales of government securities)

What are some other policy tools of the Federal Reserve?

increasing or decreasing the discount rate charged on loans it makes to banks AND raising or lowering reserve requirements for those same financial instutions

What expansionary tools do the Federal Reserve use?

buy bonds, lower discounts, lower reserve regulations

What contractionary tools do the Federal Reserve use?

sell bonds, raise discount, raise reserve regulations

What does the Federal Reserve do to promote the safety and soundness of the banking system?

supervise and regulate banks

Why else do the Federal Reserve supervise and regulate banks?

foster stability in financial markets, and to ensure compliance with applicable laws and regulations

What other random duties do the Federal Reserve perform?

– supply paper money and coin to banks – processing checks and electronic payments – protecting consumers through regulation and education

What is the most commonly used U.S. currency?

$20 bill

The Federal Reserve System (the Fed)

is the central banking system of the United States

What does the Federal Reserve System’s structure help to ensure?

that regional information is represented in national policy decisions and that the Fed remains accountable to the people

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