Federal Reserve System

By Sam Cable

The Fed

The Fed was created to provide the nation with a safer more stable monetary and financial system. It regulates and supervises banks, conducts the nation's monetary policy, maintains the stability of the financial system, and provides financial services to institutions, and the government. They district banks it supervises and regulates are:

1. Boston

2. New York

3. Philadelphia

4. Cleveland

5. Richmond

6. Atlanta

7. Chicago

8. St. Louis

9. Minneapolis

10. Kansas City

11. Dallas

12. San Francisco

Board of Governors

The Board of Governors oversees the twelve District Reserve Banks and helps implement national monetary policy. They are located in Washington, DC.

Federal Open Market Committee "FOMC"

The "FOMC" is responsible for guiding monetary policy. It is comprised of seven members of the the Board of Governors and the Presidents of five Federal Reserve Banks. They meet about eight times a year to set the course of monetary policy.

Bureau of Engraving & Printing

The Bureau of Engraving & Printing's purpose is to develope and pruduce U.S. currency, only bills or notes. It prints billions of dollars each year, but no coins.

U.S. Mint

The U.S. Mint 's purpose is to produce enough coins for the U.S. to use in our daily lives. They get rid of damaged or old coins and sell their coins. They have facilities in Denver, Philadelphia, San Francisco, West Point, New York, and Kentucky. Each facility has a different job, or function.