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




  • 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


The chairman

The chairman of the federal reserve is; Ben s. Bernanke