The Federal Reserve Board and How They Combat Inflation
Table of Contents1.Federal Reserve System2.The Board of Governors3.The Discount Rate4.The Open Market Committee5.Gross Domestic Product6.Roles of the Reserve Bank7.Federal Reserve Bank8.Board of Directors9.Staff Members and Board of Governors10.Break Down of M-1, M-2 and M-311.Demands for Money12.Consumer Price Index13.Conclusion14.Recommendations15.ReferencesA List of Tables and FiguresTable 1: Federal Reserve Building, Executive SummaryTable 2: Real GDP, Percent Change at Annual RateTable 3: Consumer Price Index, Percent Change at Annual Ratehttp://pubs.usgs.gov/gip/stones/stops34-39.html36 Name: Federal Reserve BuildingLocation: Constitution Avenue, between 20th and 21st Streets NWBuilding Stones: Exterior, Georgia marble; foundation, Massachusetts granite; fountains, Pennsylvania black diabaseRemarks: The Federal Reserve System was established in 1913 to serve as the central banking system of the United States. (pubs.usgs.gov). Paul P. Cret, who was also one of the designers of the Pan American Union Building, designed the building and construction began in 1936 in the wave of construction that followed the Depression.
Executive SummaryThe Federal Reserve Board combats inflation through using three tools of monetary policy. Open markets operation, the discount rate and reserve requirements. Monetary Policy refers to the actions taken by a central bank such as the Federal Reserve to influence the availability and cost of money and credit to help promote national economic goals for the United States.
Congress created a reserve system call the Federal Reserve System; under their powers of government this is called an act of congress. The Federal reserve Board was established through an act of Congress in 1913. (www.frbsf.org). The board of Governors has seven members and they are located in Washington D.C. There are twelve banks located in key cities all over the United States. The Federal Reserve System is made up of several area of Government. The board of Governors, federal open market committee, Federal Reserve banks and Board of Directors all combined together to make up the system.