Describe the key features and functions of the Federal Reserve System.
- Describe the key features and functions of the Federal Reserve System.
Homework Answers
Federal Reserve System
Federal reserve system is the central bank of the united states which controls and manage the entire banking system of the united states.
Features:-
(a) It was founded by Congress to provide the nation with a safer & more stable monetary and financial system.
(b) The federal reserve system has three primary functions:- monetary policy, banking supervision, financial services.
(c) The board of Governors, located in Washington DC provides the leadership for the system.
Function's:-
(a) Open Market Operations
It refers to purchase and sale of treasury securities to control the supply & demand of money in the economy. Selling of securities helps the government to decrease the money holding with in the people whereas purchase of securities increase the money supply in the economy.
(b) Banker's Bank
One of the most important role of federal reserve system is to overseeing the smooth functioning of the other financial institutions that's why it acts as a bank to the other banks.
(c) Custodian of Foreign Exchange
All the foreign currencies are under the custody of federal reserve system which also known as the base of foreign currencies and helps the government to decide the relative value of the dollar.
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Describe the key features and functions of the Federal Reserve
System.
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1. Describe the overall structure of the U.S. Federal Reserve System. Be sure to provide at least 5 characteristics of the Fed in your response. An example of one of the many characteristics is that the Fed was created under the Federal Reserve Act of 1913. This is what I am looking for (simple and basic fact) but please do not use this one (1913) anymore........ Be creative on your own answers and be sure to elaborate on your answers...
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