The Federal Reserve Board

Paper Summary:

This paper analyzes the responsibilities of the Federal Reserve Board, claiming that its most important responsibility is the stabilization of the economy by regulating financial markets. The paper contends that the frequent and usually well-planned hikes and cuts in fund rates are indicative of the Federal Reserve Board's power and influence on the American economy.

From the Paper:

"The Federal Reserve Board is the most powerful financial institution in the country and is actually the Central bank of United States. This institution is responsible for regulating financial system of the country by formulating monetary policies and by changing the fund rates. The Fed is not completely independent and works together with the administration and the Department of the Treasury. It is responsible for formulating and implementing monetary policies in the United States. Even though not independent Federal Reserve has the power to single-handedly introduce appropriate regulations and changes in order to control the financial markets. Federal Bank is commonly referred to as the Fed and it has lately been in the news quite consistently and persistently. The headline-making monetary measures have made the public take notice of the way monetary system works in the United States."

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