Centralized Monetary Policy in The United States

Paper Summary:

This paper describes the central monetary system of the United States government in the form of the Federal Reserve Bank. The paper examines the function of the bank and it's governing members and committees. The paper details the concepts and economic responsibilities of the bank and highlights its historic policies.

From the Paper:

"The major institution of centralized monetary policy in the United States is the Federal Reserve Bank which has been much in the news lately as it has continued to drop the discount rate. To understand why it has taken the actions that it has during this calendar year and to understand the relationship between the Federal Reserve Bank, a centralized monetary policy and fluctuations in interest we must in fact focus on the central bank or the Fed, as it is nearly universally called, even by those who never even think about investing in the world of high finance."

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