Abstract This paper offers an overview of the current governors of the Board of the US Federal Reserve including the current chairman of the board, Ben S. Bernanke. The paper specifically discusses the Federal Open Market Committee (FOMC) that is the branch of the Federal Reserve System responsible for open market operations, and relates the contents of its most recent report that was issued on March 5, 2008. The writer then offers personal recommendations on how the FOMC should provide more liquidity for the system in order to stimulate economic activity.
Outline:
Overview of the Federal Reserve System Board of Governors
Overview of the FOMC Monetary Policy Role
Personal Recommendation
From the Paper "The current chairman of the board is Ben S. Bernanke, who was sworn into office as the Chairman and a member of the Board of Governors on February 1, 2006. As of today, Mr. Bernanke has held this position for two years and 1 month. He also serves as the Chairman of the Federal Open Market Committee, the Federal Reserve System's principal monetary policy making body (Federal Reserve, 2008). According to the regulations of the Federal Reserve, his term as a Chairman expires on January 31, 2010; his term as a member of the Board of Governors expires on January 31, 2020."
Abstract The paper discusses the Euro vis-a-vis its impact on U.S. monetary and financial policy. The paper reveals that the Euro is currently performing well on the open currency markets and its strength versus the dollar is strong. The paper discusses how U.S. monetary policy, as guided by the Federal Reserve, has been forced to adjust its policy to accommodate the stronger Euro and its impact on trade and foreign relations.
Outline:
Abstract
Overview
U.S. Economic Policy
Exchange Rate Effects
Conclusion
From the Paper "In spite of its weak introduction, the Euro has become a major international currency on a par with the U.S. dollar, the British pound, and the Japanese Yen. The concept of a unified European currency has its origins in post World-War II Europe that was severely damaged, both economically and socially, by the ravages of the German war machine as well as the various political tyrannies that had led up to the war (Harrop, 1999). The Euro as a model of single-currency for the European Union was largely formalized in the Maastricht treaty of 1992 where the European Union became a reality rather than a pipedream (Harrop, 1999). The Euro was the conception of the 12 original European member states and was spear-headed by the Council of the European Union and the European Commission that set the formula for deciding the conversion rates at implementation (Pomfret, 2005). While initially weak on the open currency markets, the Euro quickly established itself as viable common currency regime for the EU and it has become a factor in many world economies and especially that of the U.S. economy."
