The Federal Reserve System
By Meg Mathison
The Fed
Stabilizes the economy by: 1.Regulating nation's money supply 2.Supervising banks 3.Supplying currency to reserve banks 4.Overseeing nation's payment system
Bureau of Engraving and Printing
•Produces U.S. notes worldwide •Prints billions of dollars each year •Works to prevent counterfeit
U.S. Mint
•Manufactures/distributes coins •Protects nation's gold and silver •Six locations
District Banks
Locations
- Boston, MA
- New York, NY
- Philadelphia, PA
- Cleveland, OH
- Richmond, VA
- Atlanta, GA
- Chicago, IL
- St. Louis, MO
- Minneapolis, MN
- Kansas City, MO
- Dallas, TX
- San Francisco, CA
Board of Governors
- Make decisions about monetary policy
- Oversees operations at The Fed
- Keep economy healthy
- Located in Washington, D.C.
Federal Open Market Committee (FOMC)
- Regulates amount of money/credit in economy
- Made of 7 governors, N.Y. president, and four other district presidents