Federal Reserve System
()
About this ebook
Prior to the establishment of the Federal Reserve System
(FRS), the U.S. economy faced frequent panics, bank failures,
and credit scarcity due to unstable banking and financial
systems prevailing in the market. Additionally, due to the rapid
industrialization the decentralized banking system became more
unstable. Specifically, the financial and the economy panic
encountered during 1907 forced the congress to establish a
centralized bank "The Federal Reserve System". Congress
passed the Reserve Act in the year 1913 to establish the FRS.
The FRS is entitled to provide a safe, secure, and stable
financial growth for the U.S.
As the FRS was created, the structure and functionalities of the
central bank has evolved in phases. In the year 1935, the
Fed's monetary policy making body called the Federal Open
Market Committee (FOMC) was formed to address the financial
depression of the country. Further, the monetary policy was
revised from time-to-time to address the financial panics and
the bank runs faced by the public. The monetary policy
addressed the surging inflation faced by passing the Federal
Reserve Reform Act of 1977. Later, the monetary policy was
entitled to increase the employment rate by passing the
Employment and Balanced Growth act in the year 1978, and it
was decided that the FRS produced the finance report to the
congress twice a year.
Following the severe financial crisis in the year 2007-2008, the
U.S. congress passed the Wall Street Reform and Consumer
Protection Act of 2010 to increase the transparency of the
working of the FRS, extend the regulatory responsibilities, and
increase the safety and security of the financial aspects by
providing a new Consumer Financial Protection Bureau.
As the working of the FRS directly impacts the financial and
economical condition of the country and the individuals, it
becomes very important to understand the structure,
functionalities, and working of the FRS.
Read more from Intro Books Team
Cash Flow Analysis Rating: 3 out of 5 stars3/5Introduction to Business Management Rating: 5 out of 5 stars5/5Crash Course Financial Analysis Rating: 0 out of 5 stars0 ratingsChild Development Theories Rating: 0 out of 5 stars0 ratingsDesign Thinking Rating: 0 out of 5 stars0 ratingsMechatronics Rating: 4 out of 5 stars4/5Production Management Rating: 4 out of 5 stars4/5Management Information System Rating: 0 out of 5 stars0 ratingsInvestment Banking Crash Course Rating: 4 out of 5 stars4/5Industry 4.0 Rating: 4 out of 5 stars4/5Psychology of Color Rating: 4 out of 5 stars4/5Balanced Scorecard for Performance Measurement Rating: 3 out of 5 stars3/5Introduction to Pricing Strategies Rating: 5 out of 5 stars5/5Crash Course Business Agreements and Contracts Rating: 3 out of 5 stars3/5Financial Statement Analysis Fundamentals Rating: 0 out of 5 stars0 ratingsLearn and Understand Business Analysis Rating: 4 out of 5 stars4/5Managerial Economics Crash Course Rating: 5 out of 5 stars5/5Learning Theories Rating: 5 out of 5 stars5/5Crash Course Financial Modelling Rating: 5 out of 5 stars5/5Teaching Methods Rating: 0 out of 5 stars0 ratingsProject Finance Rating: 0 out of 5 stars0 ratingsManagerial Accounting Rating: 0 out of 5 stars0 ratingsHistory of Israel - Palestine Conflict Rating: 4 out of 5 stars4/5Introduction to Chemistry Rating: 0 out of 5 stars0 ratingsBusiness English Rating: 0 out of 5 stars0 ratingsArtificial Intelligence in Banking Rating: 0 out of 5 stars0 ratingsIntroduction to Strategy Rating: 3 out of 5 stars3/5Fundamentals of Physics Rating: 0 out of 5 stars0 ratingsBasic Microeconomics Rating: 0 out of 5 stars0 ratingsDiplomacy Rating: 4 out of 5 stars4/5
Related to Federal Reserve System
Related ebooks
Money Supply Fundamentals Rating: 2 out of 5 stars2/5The Federal Reserve and the Financial Crisis Rating: 4 out of 5 stars4/5The Road Ahead for the Fed Rating: 5 out of 5 stars5/5The Historical Performance of the Federal Reserve: The Importance of Rules Rating: 0 out of 5 stars0 ratingsQuantitative Easing: The Great Central Bank Experiment Rating: 0 out of 5 stars0 ratingsBank Liquidity Creation and Financial Crises Rating: 0 out of 5 stars0 ratingsInterest Rate Cycles: An Introduction Rating: 5 out of 5 stars5/5A Primer on Money: What is Money, How Is It Created, and the Role of the Federal Reserve Rating: 0 out of 5 stars0 ratingsThe Squam Lake Report: Fixing the Financial System Rating: 4 out of 5 stars4/5Currencies, Capital, and Central Bank Balances Rating: 0 out of 5 stars0 ratingsIntroduction to Treasury Rating: 0 out of 5 stars0 ratingsMonetary Policy in an Uncertain World: Ten Years After the Crisis Rating: 0 out of 5 stars0 ratingsUnderstanding Government Finance Rating: 0 out of 5 stars0 ratingsBasic Understanding of Bond Investments: Book 5 for Teens and Young Adults Rating: 5 out of 5 stars5/5The Structural Foundations of Monetary Policy Rating: 0 out of 5 stars0 ratingsFinancial Markets, Banking, and Monetary Policy Rating: 5 out of 5 stars5/5Money, Markets, and Government: The Next 30 Years Rating: 0 out of 5 stars0 ratingsUnderstand Banks & Financial Markets: An Introduction to the International World of Money & Finance Rating: 4 out of 5 stars4/5Financial Stability Without Central Banks Rating: 4 out of 5 stars4/5Practical Approach to Bank Lending Rating: 0 out of 5 stars0 ratingsA History of the Federal Reserve, Volume 2, Book 1, 1951-1969 Rating: 5 out of 5 stars5/5Inside the FDIC: Thirty Years of Bank Failures, Bailouts, and Regulatory Battles Rating: 4 out of 5 stars4/5The Second Great Contraction: From This Time Is Different Rating: 4 out of 5 stars4/5The Power and Independence of the Federal Reserve Rating: 5 out of 5 stars5/5Central Bank Governance and Oversight Reform Rating: 0 out of 5 stars0 ratingsMilton Friedman & Economic Debate in the United States, 1932–1972: Volume 1 Rating: 0 out of 5 stars0 ratingsContemporary Financial Intermediation Rating: 0 out of 5 stars0 ratingsBalancing the Banks: Global Lessons from the Financial Crisis Rating: 5 out of 5 stars5/5The Spectre of Price Inflation Rating: 5 out of 5 stars5/5How Big Banks Fail and What to Do about It Rating: 5 out of 5 stars5/5
Business For You
Robert's Rules Of Order Rating: 5 out of 5 stars5/5Crucial Conversations Tools for Talking When Stakes Are High, Second Edition Rating: 4 out of 5 stars4/5Becoming Bulletproof: Protect Yourself, Read People, Influence Situations, and Live Fearlessly Rating: 4 out of 5 stars4/5Crucial Conversations: Tools for Talking When Stakes are High, Third Edition Rating: 4 out of 5 stars4/5Nickel and Dimed: On (Not) Getting By in America Rating: 4 out of 5 stars4/5Summary of J.L. Collins's The Simple Path to Wealth Rating: 5 out of 5 stars5/5Law of Connection: Lesson 10 from The 21 Irrefutable Laws of Leadership Rating: 4 out of 5 stars4/5Collaborating with the Enemy: How to Work with People You Don’t Agree with or Like or Trust Rating: 4 out of 5 stars4/5High Conflict: Why We Get Trapped and How We Get Out Rating: 4 out of 5 stars4/5Set for Life: An All-Out Approach to Early Financial Freedom Rating: 4 out of 5 stars4/5The Richest Man in Babylon: The most inspiring book on wealth ever written Rating: 5 out of 5 stars5/5Leadership and Self-Deception: Getting out of the Box Rating: 4 out of 5 stars4/5Capitalism and Freedom Rating: 4 out of 5 stars4/5The Catalyst: How to Change Anyone's Mind Rating: 4 out of 5 stars4/5Lying Rating: 4 out of 5 stars4/5Emotional Intelligence: Exploring the Most Powerful Intelligence Ever Discovered Rating: 5 out of 5 stars5/5The Five Dysfunctions of a Team: A Leadership Fable, 20th Anniversary Edition Rating: 4 out of 5 stars4/5Red Notice: A True Story of High Finance, Murder, and One Man's Fight for Justice Rating: 4 out of 5 stars4/5Buy, Rehab, Rent, Refinance, Repeat: The BRRRR Rental Property Investment Strategy Made Simple Rating: 5 out of 5 stars5/5The Intelligent Investor, Rev. Ed: The Definitive Book on Value Investing Rating: 4 out of 5 stars4/5Just Listen: Discover the Secret to Getting Through to Absolutely Anyone Rating: 4 out of 5 stars4/5Your Next Five Moves: Master the Art of Business Strategy Rating: 5 out of 5 stars5/5Tools Of Titans: The Tactics, Routines, and Habits of Billionaires, Icons, and World-Class Performers Rating: 4 out of 5 stars4/5How to Get Ideas Rating: 5 out of 5 stars5/5
Reviews for Federal Reserve System
0 ratings0 reviews
Book preview
Federal Reserve System - IntroBooks Team
Federal Reserve
System
IntroBooks #425
readintrobooks.com
Copyright © 2017 IntroBooks
All rights reserved.
PREFACE
Prior to the establishment of the Federal Reserve System (FRS), the U.S. economy faced frequent panics, bank failures, and credit scarcity due to unstable banking and financial systems prevailing in the market. Additionally, due to the rapid industrialization the decentralized banking system became more unstable. Specifically, the financial and the economy panic encountered during 1907 forced the congress to establish a centralized bank The Federal Reserve System
. Congress passed the Reserve Act in the year 1913 to establish the FRS. The FRS is entitled to provide a safe, secure, and stable financial growth for the U.S.
As the FRS was created, the structure and functionalities of the central bank has evolved in phases. In the year 1935, the Fed’s monetary policy making body called the Federal Open Market Committee (FOMC) was formed to address the financial depression of the country. Further, the monetary policy was revised from time-to-time to address the financial panics and the bank runs faced by the public. The monetary policy addressed the surging inflation faced by passing the Federal Reserve Reform Act of 1977. Later, the monetary policy was entitled to increase the employment rate by passing the Employment and Balanced Growth act in the year 1978, and it was decided that the FRS produced the finance report to the congress twice a year.
Following the severe financial crisis in the year 2007-2008, the U.S. congress passed the Wall Street Reform and Consumer Protection Act of 2010 to increase the transparency of the working of the FRS, extend the regulatory responsibilities, and increase the safety and security of the financial aspects by providing a new Consumer Financial Protection Bureau.
As