The federal reserve
The history of the federal reserve
- In 1923 the federal reserve was born
- 1914 the federal reserve opened officially for business
- In the 1920s was the beginning of the market operations
- 1935 more changes to come; The Banking Act of 1935 called for further changes in the Fed’s structure, including the creation of the Federal Open Market Committee (FOMC) as a separate legal entity, removal of the Treasury Secretary and the Comptroller of the Currency from the Fed’s governing board and establishment of the members’ terms at 14 years. (from .federalreserveeducation.org)
- Inflation (good stocks) and deflation (bad stocks) occurred in 1970s-1980s
- 1990s the longest economic expansion; Two months after Alan Greenspan took office as the Fed chairman, the stock market crashed on October 19, 1987. In response, he ordered the Fed to issue a one-sentence statement before the start of trading on October 20: “The Federal Reserve, consistent with its responsibilities as the nation’s central bank, affirmed today its readiness to serve as a source of liquidity to support the economic and financial system.”
- September 11, 2001; The effectiveness of the Federal Reserve as a central bank was put to the test on September 11, 2001 as the terrorist attacks on New York, Washington and Pennsylvania disrupted U.S. financial markets. The Fed issued a short statement reminiscent of its announcement in 1987: “The Federal Reserve System is open and operating. The discount window is available to meet liquidity needs.”
The modern federal reserve
Chairman
Vice Chair
Vice Chair
- Jeremy c. Steil
- these people are all on the federal reserve board
- 12 federal reserve banks around the united states 1990s the longest economic expansion
- 2006 and beyond financial crisis and response
The link
The link above is were I got all of my information, if you would like to know more about it look around on the website
federal reserve logo
This is the logo/emblem of the united states federalreserve
A federal reserve building
This is a federal reserve building
the map
This is a map of the federal reserve's jurisdiction for the buildings