The Federal Reserve System

By: Scott Brausen

The Fed

  • The purpose of the fed was and still is to make sure that the nation has a safe and more stable monetary and financial system.
  • They supervise each bank to make sure that they are meeting regulations, and if the bank doesn't fix its problems it could face being shutdown.
  • There are 12 district banks
  • District 1- Boston, MA
  • District 2- New York, NY
  • District 3- Philadelphia, PA
  • District 4- Cleveland, OH
  • District 5- Richmond, VA
  • District 6- Atlanta, GA
  • District 7- Chicago, IL
  • District 8- St. Louis, MO
  • District 9- Minneapolis, MN
  • District 10- Kansas City, MO
  • District 11- Dallas, TX
  • District 12- San Francisco, CA

Board of Governors

  • The Board of Governors is located in Washington D.C.
  • They make important decisions regarding the monetary policy of the U.S.

FOMC

  • The FOMC is the monetary policymaking body of the Federal Reserve System.
  • They set the policy by finding the short-term objective for open market operations.

Bureau of Engraving & Printing

  • The Bureau of Engraving & Printing is responsible for the overall operations in the production of United States currency and the other government securities an d documents.
  • Although not very common to some, in 2012 the Bureau of Engraving & Printing has made 134,400,000 $2 bills.

U.S. Mint

  • The U.S. Mint makes and distributes coin, overseeing of production facilities, and receiving, redeeming, and processing mutilated coins.
  • In recent history circulating coin production has varied between 11 billion and 20 billion coins annually.