Federal Reserve System
Government Agency
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The Federal Reserve under attack: Poked by pitchforksCurbs on the Fed's independence are advancing through Congress POPULISTS and bankers have been at odds since America's earliest days. Its first two central banks were shuttered in the 19th century in part because of their perceived... In this article: The Fed, Government Accountability Office, House of Representatives, Ron Paul, and Barney Frank |
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L.A. Times - Personal Finance | 23 hours ago
Federal Reserve tries theater ads to burnish its image
...jazzy music, the announcer asks: "Want to use your credit card wisely? Here are some tips you can trust from the Federal Reserve." With the Fed logo featured prominently, the ad offers suggestions such as paying your bill on time and...
In this article: The Fed, Washington, Recession, Ben S. Bernanke, Ron Paul, U.S., Long Beach, California, and Florida
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San Francisco Chronicle | 23 hours ago
On the Role of Monetary Policy / Congress: Hands off the Fed
...Hands off th:/c/a/2009/11/26/ED0N1APUFO.DTL Congress has a new punching bag for the economic crisis and the ruined economy: the Federal Reserve. Given the events of the last month, it would be easy to think that the Fed is responsible...
In this article: The Fed, Alan Greenspan, Inflation, Ben Bernanke, Government Accountability Office, Ron Paul, and House Financial Services Committee
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Huffington Post | 1 day ago
Robert L. Borosage: In The Fed We Trust? Will The Senate Reward The Architect Of The Wall Street Bailout?
...that the Federal Reserve should have the power to monitor institutions that are too big to fail rather than breaking them up. Given the Fed's regulatory record leading into this crisis, why should we have any faith in that notion? You've...
In this article: Federal Reserve, Ben Bernanke, AIG, Balance sheet, Derivative, Unemployment, and Maxine Waters
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Huffington Post | 2 days ago
Low Interest Rates Could fuel Speculative Financial Bubble: Federal Reserve
...to historical experience." Recoveries after steep economic downturns are usually robust, the Fed said. In updated economic projections, the Fed said the economy's contraction for all of this year won't be as deep as it thought in a forecast...
In this article: The Fed, Unemployment, Inflation, Recession, Ben Bernanke, and Washington
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MarketWatch | 2 days ago
The Fed: Fed sees slow recovery holding jobless rate high
At the end of its meetings, the Fed decided to keep interest rates at record lows. As expected, the Fed kept its target for its federal funds rate set at a range of zero to 0.25%. The votes for these policy actions were unanimous. Most...
In this article: The Fed, Inflation, Unemployment, Balance sheet, Federal Home Loan Banks, Freddie Mac, and Fannie Mae
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Reuters | 2 days ago
RPT-TABLE-Federal Reserve economic forecasts
...0.2 to 2.3 N/A June 1.2 to 2.0 0.5 to 2.0 0.2 to 2.5 N/A N/A Notes: N/A-not available The Fed issued its minutes one day in advance due to the federal Thanksgiving Day holiday on Nov. 26. June forecasts are from the Federal Open...
In this article: Unemployment, The Fed, Inflation, Thanksgiving Day, Washington, and U.S.
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Indiana Times - The Economic Times | 3 days ago
Is the Fed creating new bubbles?
...Vice-Chairman Donald L. Kohn made it clear in separate appearances that asset markets are not the focus of Fed monetary policy. The next day in Hong Kong, Federal Reserve Bank of San Francisco President Janet L. Yellen said, according to her...
In this article: The Fed, Ben S. Bernanke, Alan Greenspan, Barack Obama, U.S., Hong Kong, Futures contract, Copper, and New York University
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Winston-Salem Journal | 4 days ago
'Badgering' of the Fed might not be good idea
...after it froze up last September after the bankruptcy of the Lehman Brothers investment house, Fed backers say. "It might have been the Fed's finest moment when it had to jump into the market," said David M. Jones, a former Fed...
In this article: The Fed, Ben Bernanke, Timothy Geithner, American International Group, George W. Bush, Unemployment, Inflation, Financial crisis, and Bankruptcy
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AP Online | 7 days ago
House panel votes to audit Federal Reserve
...has been shielded from scrutiny. The proposed audit would not include a review of the Fed's monetary policy deliberations. Antipathy toward the Fed's closed-door activities has grown after it used its emergency powers during last year's...
In this article: The Fed, Government Accountability Office, House Financial Services Committee, and Washington
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washingtonpost.com | November 14, 2009
David Ignatius on efforts to curb the Federal Reserve
...Congress is the right to second-guess. That ritual is playing itself out with a vengeance as the solons of Capitol Hill attack the Federal Reserve for its role in last year's financial crisis. The Fed made its share of mistakes in creating...
In this article: The Fed, Chris Dodd, Ben Bernanke, AIG, Unemployment, Inflation, Financial crisis, and David Smick
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Description from Wikipedia:
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 by the enactment of the Federal Reserve Act, largely as a response to a series of financial panics or bank runs, particularly a severe panic in 1907. Over time, the roles and responsibilities of the Federal Reserve System have expanded and its structure has evolved. Events such as the Great Depression were some of the major factors leading to changes in the system. Its duties today, according to official Federal Reserve documentation, fall into four general areas:
# Conducting the nation's monetary policy by influencing monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates
# Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system, and protect the credit rights of consumers
# Maintaining stability of the financial system and containing systemic risk that may arise in financial markets
# Providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation's payments system
Federal Reserve System is subject to the Administrative Procedure Act. It is not "owned" by anyone and is "not a private, profit-making institution". It describes itself as "an independent entity within the government, having both public purposes and private aspects". In particular, neither the Federal Reserve System nor its component banks are owned by the US Federal Government.
According to the Federal Reserve, there are presently five different parts of the Federal Reserve System:
- Headquarters:
- Washington, D.C.
- Head:
- Ben Bernanke
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