Federal Reserve Project

By: Andrew Shymanski

History of the Fed

The Fed was created on December 23, 1913 with the Federal Reserve Act.

The Fed's Goals and Responsibilities

The Fed is trying to accomplish many goals like stabilizing in the financial system, fight off inflation, full employment, economic growth, and many more. Also, the Fed has many responsibilities. Those include to promote sustainable growth, keep high levels of employment, and stabilize prices.

FOMC and Monetary Policy tools

The Federal Open Market Committee (FOMC),consists of twelve members which are the seven Board of Governors, the president of the New York Federal Reserve Bank, and four of the remaining board presidents who rotate every year.

Inflation/Reccesion/Depression

Inflation is when the prices of goods increases over time. The Federal Reserve evaluate changes in inflation by monitoring different price indexes. Recession is a period of economic decline. The Fed can help that by increasing or decreasing interest rates.

District Reserve Banks

There are 12 district banks in the United States. They are located in Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, and San Francisco.

BEP and US Mint

The BEP stands for the US Bureau of Engraving and Printing. It prints out all of our currency that we use today. The US Mint is how we get all of our coins that we use.