III. History of the Federal Reserve Act and Amendments to 8

VI. Monetary Policy and Effects of on the Economy 12

Why do a report on the Federal Reserve System? This is a question I went over in my head while making a decision on the type of report to do, and what I wanted to learn more about and why.

Over the past few years I have realized the impact that the Federal Government has on our economy, yet I never knew enough about the subject to understand why. While taking this Economics course it has brought so many things to my attention, especially since I see inflation, gas prices, and interest rates on the rise. It has given me a better understanding of the affect of the Government on the economy, the stock market, the interest rates, etc. Since the Federal Government has such a control over our Economy, I decided to tackle the subject of the Federal Res

The Federal Reserve also plays a major role in the supervision and regulation of the U.S. banking system. Banking supervision-the examination of institutions for safety and soundness and for compliance with law-is shared with the Office of the Comptroller of the Currency, which supervises national banks and the Federal Deposit Insurance Corporation, which supervises state banks that are not members of the Federal Reserve System. The Board's supervisory responsibilities extend to the roughly 1,000 state bands that are members of the Federal Reserve System, all bank holding companies, the foreign activities of member banks, the U.S. activities of foreign banks, and Edge Act and agreement corporations (the institutions that engage in a foreign banking business).

Managerial Economics, Thomas Hailstones and John Rothwell, Prentice Hall, 1985

The Federal Reserve System is the central banking authority of the United States. It acts as a fiscal agent for the United States government and is custodian of the reserve accounts commercial banks, makes loans to commercial banks, and is authorized to issue Federal Reserve notes that constitute the entire supply of paper currency of the country. Created by the Federal Reserve Act of 1913, the 12 Federal Reserve banks, the Federal Open Market Committee, and the Federal Advisory Council, and since 1976, a Consumer Advisory Council which includes several thousand member banks.

Some common words found in the essay are:
Reserve System, Federal Reserve, Treasury Bills, Reserve's Duties, federal reserve, Market Committee, Reserve Banks, Treasuries Eventually, Federal Government, Wilson December, United Senate, reserve system, federal reserve system, board governors, monetary policy, federal reserve banks, reserve banks, reserve act, system federal, long-term rates, money credit, federal government, federal reserve act, federal market committee, federal reserve bank,
Approximate Word count = 2733
Approximate Pages = 11 (250 words per page double spaced)