The Federal Reserve System

Ryan Megonigle

We stabilize the American Economy!

Through different methods we limit the amount of inflation or recession that the American economy goes through.

What we do

At the federal reserve we control the nations money we give your bank the money to pay you! Also every check that you write goes through us to approve it.

We make the money

we control the Mint and the bureau of printing and engraving.

Some of our Currency!

The Eccles Building

This is the home base of the federal Reserve along with the Fedral Open Market Committee

History

The Federal Reserve was created in response to distrust in the banking system after numerous economic crashes. In 1913 Congress passed the Federal Reserve act when we were created. Also before the federal Reserve the country had over 30,000 different currencies.

Districts

There are 12 Different districts Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Lewis, Minneapolis, Kansas city, Dallas, San Francisco each had a district bank that clears checks and provide money to the smaller banks.

FOMC

The Federal Open Market Committee is a board that the 7 board of governors, the head of the New York Reserve bank and 4 members from other reserve banks. These people together make decisions that will stabilize and grow the American economy.