What is the federal reserve system?

The federal reserve system is a central system of banking of the United States. It is owned publicly and privately and consists of a number of different branches that cooperate on checking the offer of money in the American economy and determining fiscal policy. The aim of the Federal Reserve is to maintain the US economy strong, healthy and balanced, to use a mixture of central policies and localized branches to ensure that all aspects of the US economy were represented and solved by federal reserve. Given that the federal reserve system or "Fed" plays a major role in the American economy, most economic analysts carefully monitor their activities because the Fed event affects the direction of the economy.

The centralized part of the bank is the Council of Governors, which consists of a group that consists of a group that consists of a group of pre -appointed creators of politicians who serve for 14 years. The appointment is spread to ensure that a single president does not end too much contractLou above the Governor's Council, which acts independently of the federal government. The Governor's Council regularly meets to discuss monetary policy and introduce new policies if necessary. Members of the Board of Directors come from all over the US and ensure that the board has a wide view of the US economy.

Seven members of the Board of Directors also sit in the Federal Committee on the Open Market, a branch of the Federal Reserve, which oversees the free market operations. In addition to members of the Board of Directors, the free market also includes five representatives of federal reserve banks; The President of the District in New York always sits in the committee and four other chairs are turned to regular basis. The Federal Committee for the Open Market meets eight times a year and the meeting is attended by representatives of all Federal Reserve banks.

There are 12 regional federal reserve banks broken by the district and usually refers to the city in whichIt has a regional bank based: Boston, New York, San Francisco, Philadelphia, Richmond, Kansas City, Dallas, Minneapolis, Atlanta, St. Louis, Chicago and Cleveland. These branches retain the currency reserves and each bank has its own president and board. In addition to regional banks, there are also a number of member banks, including all national banks and some regional banks that decide to connect to the federal reserve system.