The Federal Reserve System
The Fed
The Fed basically controls all the paper currency in the US. They make, restore, and destroy paper money every day. They also regulate out economy by buying and selling securuties from banks. The Fed also supervises banks to make sure that they are in good shape.
There are 12 district banks, and here are the locations:
1) Boston
2) New York
3) Philidephia
4) Clevemond
5) Richmond
6) Atlanta
7) Chicago
8) St Louis
9) Minneapolis
10) Kansas City
11) Dallas
12) San Francisco
Board of Governers
Location and Purpose
The Board of Governers is located in Washingtin, D.C., and is there to vote on decisions about the economy and how to help it.
FOMC
Function and Purpose
The FOMC is in charge of buying and selling US Treasury Securities. They typically meet every 6 weeks to evaluate the course of monetary policy.
Bureau of Engraving and Printing
Responsibility and Facts
The Bureau of Engraving and Printing (BEP) is responsible for making Federal Reserve notes for the Fed and also making other types of government security documents, such as identification cards and naturalizationcertificates.
US Mint
Responsibilty and Facts
The US Mint is in charge of minting coins for the Fed in addition to securing the $100 billion worth of gold and silver. They have six branches were they mint coins. The US Mint also takes in mutilated coins and recycles them.