By Jake Armstrong
What the Fed does
The Fed does two things: regulates how much money is in circulation and keeps our economy stable. They are basically the banks' bank, because they supply the banks money. They keep an eye on how our economy is doing, and makes changes depending on what needs to be done. 12 district banks have different regions of the US that they watch over and distribute money to. A majority of the banks are on the East Coast, and a few are on the West and middle.
The Board of Governors
The Board of Governors sets the Reserve Requirements and Discount Rate. They are located in Washington DC and adjust the RR and DR to help our economy.
The FOMC sets the monetary policy to keep our economy and employment rate in good shape. It is made up of 12 members ad they meet 8 times a year to discuss what needs to be done.
The BEP is in charge of printing our paper currency. They only make the paper money, no coins. It has factories in 3 different locations and is the largest government security document producer.
The U.S. Mint produces all of our coins. It was created in 1792 and operates in 5 different locations. The headquarters are located in Philadelphia.