The Federal Reserve Board

Paper Summary:

This paper introduces the topic of the Federal Reserve Board. It looks at how the Federal Reserve Board is an integral part of the Federal Reserve System of the United States and how it creates and maintains much of the monitorial policy of the nation. The board members are responsible for the monetary health and security of the country and, therefore, shoulder a huge responsibility to the country and to the people.

Outline
Introduction
The Early Fed
The Banking Act of 1935
The Fed's Power
Alan Greenspan's Influence
What's Ahead For the Fed

From the Paper:

"The Fed controls finances in the United States and abroad in a number of complex ways from interest rates to the global banking industry. In fact, its name stems from the fact that member banks must keep some of their deposits in "reserve" to ensure fiscal health, and this reserve is often held by the Federal Reserve Banks across the nation. Banks who do not keep enough reserves face stiff penalties from the System (Martin 159). This is just one area where the Fed exerts its vast powers over the nation's banks, and ultimately the nation's economic health and well being."

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