The Federal Reserve System
By: Scott Brausen
- 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.
- 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.
- 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.