How the Federal Reserve Runs the Country

The Federal Reserve System (The Fed) is the central bank of the United States. It was created by congress by the passage of the Federal Reserve Act in 1913. The Federal Reserve System is composed of the Board of Governors (in Washington D.C.), and twelve regional Federal Reserve Banks located in major cities (New York, St. Louis, Boston, Philadelphia, Kansas City, Richmond, Chicago, San Francisco, Minneapolis, Atlanta, Dallas and Cleveland) throughout the United States. Today, …

…rate cuts and masterful open market operations. I am certainly bullish on our economy over the next year. References Greenspan, Allan, "Economic Outlook and Current Fiscal Issues", February 5, 2004, Available: www.federalreserve.gov Baum, Caroline, "No Hidden Agenda Behind Rate Cut", Los Angeles Business Journal, Jan 8, 2001, Available: http://www.labusinessjournal.com Evans, Mike, "Rate hikes Won't Dampen Economy", Industry Week, Feb 21, 2000, Available: http://www.industryweek.com <Tab/> <Tab/>