The FED
By: Addison Black
Regulation, Supervison, Purpose and District Banks
Main goal: Stabilize the economy
* Regulate the nations money supply
*Supervise banks
*Supply currency to reserve banks
*They regulate the nations money supply
*Supervise banks and federal reserve banks
12 district banks:
District 1-Boston, MS
District 2-New York City, NY
District 3-Philadelphia, PN
District 4-Cleveland, OH
District 5- Richmond, VA
District 6- Atlanta, GA
District 7-Chicago, IL
District 8- St. Louis, MS
District 9-Minneapolis, MN
District 10-Kansas City, MO
District 11-Dallas, TX
District 12-San Fransisco, CA
Board of Governors
*7 members
*write regulations that make banks financially sound+ make nation economically strong
*Most important responsibility: FOMC
*Located in Washington, DC
*Members are nominated by President, but approved by senate.
FOMC
*They determine the federal funds rate between banks
*Meetings occur 4 times a year/quarterly and ends with a vote on actions that will affect the country's money supply
*They also oversee the nations buying and selling of treasury securities for example
Bureau of Engraving and Printing
*Located in Washington DC and Fort Worth, TX
*Does not produce coins-this is done by the US Mint
*Notes produced-$1, $5, $10, $20, $50, and $100.
US Mint
*Produces all coins
*Located in: Philadelphia, PA; West Point, NY; Denver, CO; and San Francisco, CA; and the United States Bullion Depository at Fort Knox, KY.*Coins produced- penny, nickel, dime, quarter, half-dollar, presidential $1 coin, and the native american $1 coin
*Does not produce paper money-Bureau of Engraving and Printing