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Federal Reserve, Banking and Inflation William Ward Axia College of University of Phoenix ECO 205 Lydia Portee July 27, 2008
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Introduction
The Federal Reserve Board of Governors Federal Reserve Functions The Money Supply Inflation Cause Effect Controlling Conclusion
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The Federal Reserve
History Mission Ownership Funding Accountability
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Structure
Appointments Representation Contacts within Government
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Board of Governors
Ben Bernanke - Chairman Donald Kohn - Vice Chairman Kevin Warsh Randall Kroszner Frederic Mishkin
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Federal Reserve Functions
Monetary Policy Maintaining financial system Providing financial services Supervising and regulating
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The Monetary Policy
Definition Implementation Open Market Discount lending Requirements Types Inflation & Price Level Fixed & Mixed Gold Standard
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Inflation
Definition Measurement Types
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Causes of Inflation
Oil Prices Exchange Rates Natural Disasters
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Effects of Inflation
Investment Return Fixed Incomes Interest Rates Benefits Consumer Confidence Redistribution of Wealth
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Controlling Inflation
Monetary Policy Interest Rates Reserve Requirements Cash on Hand Fiscal Policy Taxes
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References
Bond Basics, (2006). Inflation and its impact on investments. Retrieved July 23, 2008, from PIMCO Web site: http://www.pimco.com/LeftNav/Bond+Basics/2006/Inflation_Primer.htm Federalreserve.gov, (2006). Monetary policy. Retrieved July 24, 2008, from Federal Reserve Web site: http://www.federalreserve.gov/generalinfo/faq/faqmpo.htm Federalreserve.gov, (2007). Frequently asked questions. Retrieved July 25, 2008, from Federal Reserve System Web site: http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm Federalreserve.gov, (2008). Board Members. Retrieved July 24, 2008, from Board of Governors of the Federal Reserve System Web site: http://www.federalreserve.gov McMahon, T. (2007). Hurricane Katrina: The economics of disaster. Retrieved July 27, 2008, from Inflationdata.com Web site: http://www.inflationdata.com/inflation/Inflation_Articles/Hurricane_Inflation.asp Walsh, C. (2001, May 4). The science (and art) of monetary policy. FRBSF Economic Letter, 2001-13, Retrieved July 25,