https://padlet.com/l_brown31/n1rf3z3fvnur3r0a en-us 2021-10-20 14:43:08 UTC 2021-10-20 17:21:16 UTC hello@padlet.com l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830637799 2021-10-20 14:47:35 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830637799 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830710007 The structure of the Federal Reserve System represents compromises between centralized power and regional powers.]]> 2021-10-20 15:07:19 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830710007 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830715722 The Federal Reserve System is overseen by the Board of Governors of the Federal Reserve. The Board of Governors is headquartered in Washington, D.C. Its seven governors, or members, are appointed for staggered 14-year terms by the President with the advice and consent of the Senate.]]> 2021-10-20 15:08:56 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830715722 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830722414 One Federal Reserve Bank is located in each district, though it may have branches in other cities in the district as well. Each of these banks monitors and reports on economic and banking conditions in its district.]]> 2021-10-20 15:10:49 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830722414 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830730339 All nationally chartered banks are required to join the Federal Reserve System. The remaining members are state-chartered banks that join voluntarily.These services include reserve loans to banks in need of short-term cash.]]> 2021-10-20 15:12:59 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830730339 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830768112 The Federal Open Market Committee (FOMC) makes key monetary policy decisions about interest rates and the growth of the money supply in the United States. The committee meets about eight times a year in private to discuss the cost and availability of credit, for businesses and consumers, across the country. ]]> 2021-10-20 15:23:43 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1830768112 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831091518 2021-10-20 17:05:32 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831091518 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831099334 Congress passed the Federal Reserve Act in 1913. ]]> 2021-10-20 17:08:16 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831099334 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831107873 The Great Depression was exactly the situation Congress had hoped to avoid by creating the Federal Reserve System. The system did not work well in that economic crisis, however, because the regional banks each acted independently. Their separate actions often canceled one another out.]]> 2021-10-20 17:11:07 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831107873 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831113595 In response to the ongoing depression, Congress adjusted the Federal Reserve’s structure in 1935 so that the system could respond more effectively to future crises. These reforms created the Federal Reserve System as we know it today.]]> 2021-10-20 17:13:07 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831113595 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831117816 The Fed has continued to change since the Depression. In the early 1950s, the Fed had a sharp disagreement with President Harry Truman and his Treasury Department over whether the Fed or the Treasury would control interest rates on Treasury bonds. ]]> 2021-10-20 17:14:39 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831117816 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831124634 The Fed won, allowing it to act more independently in setting monetary policy. In 1980, a new law gave the Fed the authority to set reserve requirements for all banks, even those that are not members.

]]> 2021-10-20 17:17:09 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831124634 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831129838 In 1987 and the early 2000s, the Fed acted aggressively to try to reassure investors that it would support financial institutions in times of crisis. ]]> 2021-10-20 17:19:01 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831129838 l_brown31 https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831135442 That determination was demonstrated in 2008, when the Fed played a leading role in responding to the financial crisis that arose.Fed Chairman Ben Bernanke led the Fed to play an aggressive role in addressing the financial crisis that occurred in 2008.]]> 2021-10-20 17:21:05 UTC https://padlet.com/l_brown31/n1rf3z3fvnur3r0a/wish/1831135442