All about the Federal Reserve. BY- MORGAN NOBLES
How does the Fed use its powers?
The Federal Reserve is the central bank of the US. The Fed oversees commercial banks, enforces laws that deal with consumer borrowing, and act as a government bank. The Fed can use its powers to raise and lower discount rates, raise or lower the reserve, and have Open Market Operations to stimulate the economy, and encourage or discourage business practices. The Fed uses its powers to help regulate the economy and support the interest of the common American.
Over the next five years, I intend to use a commercial bank, to hold my money, and help to save it because I have a hole in my pocket. I will not use a credit union because I am not old enough to have a credit card, in the eyes of my parents, I also will not need the Savings and Loans association because I don't need a loan for anything.