Federal Reserve System

By: Bryant Gierhan

Established

Created on December 23, 1913. It was established after a financial crisis in 1907 that led to the federal reserve act of 1913. The federal reserve program was mainly created to ensure stability of the financial system.
Big image

Duties

1) Formulate a monetary system

2) Make the collection and clearance of checks easier to help things progress quicker

3) Regulate and supervise banks

4) Distribute money to the public through depository institutions (a bank that can accept deposits from consumers)

5) Act as a lender to the nations banks

Big image

Leader

--Known as: "Chairman of the Fed", "Fed Chairman", or "Fed Chief".--

Current Chairman: Ben Bernanke

-started February 1, 2006

-no set term limit