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Federal Reserve (The Fed)

The Central Banking System of the United States

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A Quick Tip by Sharrie

  • Nov 12, 2010
  • by
Keeping interest rate as low as it had for the longest period has had the financial markets and investment sector having the party of the century until it turned into the nightmare of all time. Now, Alan Greenspan retired and the Fed (imho) has lost its touch. Granted, many blamed Greenspan for the current trouble, just as we all did with Bush. So, what will the Fed do in the future? Keep interest rate as low as it had and export inflation all over the world?
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Sharrie ()
Ranked #3
I'm a traveler at heart & have been nicknamed Travel Queen by friends & colleagues alike. Traveling has been my life passion for the last decade or so. As we enter a new decade, I'm excited … more
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Wiki

The Federal Reserve System (also known as the Federal Reserve, and informally as The Fed) is the central banking system of the United States. It was created in 1913 with the enactment of theFederal Reserve Act, and was largely a response to a series of financial panics, particularly a severe panic in 1907.[1][2][3] Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved.[2][4] Events such as the Great Depressionwere major factors leading to changes in the system.[5] Its duties today, according to official Federal Reserve documentation, are to conduct the nation's monetary policy, supervise and regulate banking institutions, maintain the stability of the financial system and provide financial services to depository institutions, the U.S. government, and foreign official institutions.[6]

The Federal Reserve System's structure is composed of the presidentially appointed Board of Governors (or Federal Reserve Board), the Federal Open Market Committee (FOMC), twelve regional Federal Reserve Banks located in major cities throughout the nation, numerous other private U.S. member banks and various advisory councils.[7][8][9] The FOMC is the committee responsible for setting monetary policy and consists of all seven members of the Board of Governors and the twelve regional bank presidents, though only five bank presidents vote at any ...

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Finance, Banks, Money, Currencies, Foreign Exchange, Central Banks, Banking System

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