The Federal Reserve System

By Meg Mathison

District Banks


  1. Boston, MA
  2. New York, NY
  3. Philadelphia, PA
  4. Cleveland, OH
  5. Richmond, VA
  6. Atlanta, GA
  7. Chicago, IL
  8. St. Louis, MO
  9. Minneapolis, MN
  10. Kansas City, MO
  11. Dallas, TX
  12. 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