The Federal Reserve System
- Created for a stable banking system.
- Main focus is price stability.
- Regulates the nation's money supply.
- Supervises banks.
- There are twelve district banks located in: Boston, Chicago, New York, St. Louis, Philadelphia, Cleveland, Minneapolis, Kansas City, Richmond, Dallas, Atlanta, and San Francisco.
Board of Governors
- Located in Washington D.C.
- Term of office is 14 years.
- Made up of 7 members (one is chairman).
- Makes U.S. monetary policy.
Federal Open Market Committee
- Buys and sells U.S. Treasury securities.
- Evaluates the course of monetary policy.
- Guides open market operations.
Bureau of Engraving and Printing
- Locations in Washington D.C. and Fort Worth.
- Does not produce coins.
- Produces paper currency.
- Established in 1862.
- Locations in Philadelphia and Denver.
- Produces coins.
- Created in 1792.