The Fed

Information about The Fed

The Fed

  • Purpose: conduct the monetary policy of the United States, manage all Reserve Banks, maintaining stability of the country and providing financial services
  • Regulates what currency is being circulated and how much is being circulated also protects against inflation and recession
  • Supervises the Reserve Banks of the country
  • 12 District Banks

Board of Governors

  • Located in Washington D.C
  • Purpose: supervises work of Reserve Banks, issues regulations, makes monetary policy

Federal Open Market Committee (FOMC)

  • Function: responsible for the open market operations
  • Purpose: maintaining open market operations

Bureau of Engraving and Printing

  • Responsibility: Printing and distributing Federal Notes
  • Facts: Makes 35 million bills a day adding up to $635 million
  • Also prints identification cards, naturalization certificates, White House invitations, Treasury securities, and other special security documents

U.S Mint

  • Responsibility: making U.S coins
  • Facts: David Rittenhouse was chosen by George Washington as the first Director of the Mint
  • The Philadelphia Mint covers five acres of land