Federal Reserve

Federal

Reserve

System

FOMC:

Ben BernankeBoard Of Gov.

William Dudley

Elizabeth DukeBoard Of Gov.

Jeffery Lacker

Dennis Lockhart

Sandra Pianalto

Jerome PowellBoard Of Gov.

Sarah Bloom RaskinBoard Of Gov.

Jeremy SteinBoard Of Gov.

Daniel TarulloBoard Of Gov.

John Williams

Janet YellenBoard Of Gov.

Organization:Board Of GovernorsOpen MarketReserve BanksBoard Of Directors

Guide monetary policy action, to analyze domestic and international economic and financial conditions, and to lead committees that study current issues, such as consumer banking laws and electronic commerce.

Exercises broad supervisory control over the financial services industry, administers certain consumer protection regulations, and oversees the nation's payments system.

Sets reserve requirements for depository institutions and approves changes in discount rates recommended by Reserve Banks.

The Monetary and Fiscal policies are alike in the fact that they both give people more money to spend and they can raise certain taxes or discount rates to decrease money supply throughout the economy. The policies will also make it able to spend more money so more money can be put into the economy, or if they want to decrease the money supply they will decrease spending. They are also similar by both policies wanting to increase employment and curb inflation. The two policies differ by Monetary having 3 tools while Fiscal only has 2. The government controls the Fiscal policy but the FOMC of the Federal Reserves implements the Monetary policy. The last difference between the two are Monetary changes things through the banks and people while Fiscal changes things through businesses, workers, and government.

Compare/Contrast:

Responsibilities:

12 District Banks:

Councils:

* Federal Advisory* Consumer Advisory* Thrift Institutions Advisory

Current issues the councils work on.

Song choice:I chose this song to represent the struggles of economy because some people have money to make it through to stand while others fall and they just have to keep moving along in life because there isn't much anyone can do about the economy or money flow.