Federal Reserve

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Wall Street Journal  1 hr ago  Comment 
A tax break for businesses that invest in research and development could be "an effective form of stimulus" for the U.S. economy, the Federal Reserve Bank of Minneapolis president said.
SeekingAlpha  Apr 11  Comment 
By In The Long Run: The Federal Reserve began tapering in January and at its most recent meeting signaled that it will only purchasing $55bln of eligible securities per month. These securities consist of $30bln of U.S. Treasuries and $25bln of...
SeekingAlpha  Apr 11  Comment 
By Dean Popplewell: For many dollar bulls their timing has sucked. This week saw many of those bull position bleed that bit more, so much so, that countless of investors decided to pare back their open exposure or in fact close their 'long'...
newratings.com  Apr 11  Comment 
Forbes  Apr 11  Comment 
(Kitco News) - Gold traders will be watching a full slate of U.S. economic data closely next week now that the Federal Open Market Committee has seemingly muddied the waters on how quickly it will start hiking U.S. interest rates down the road.
MarketWatch  Apr 11  Comment 
The dollar posts weekly losses of more than 1% against the euro and yen as investors readjust their views on the future path of interest rates after minutes from the Fed’s March meeting showed officials hadn’t changed their outlook on monetary...
MarketWatch  Apr 11  Comment 
The dollar posts weekly losses of more than 1% against the euro and yen as investors readjust their views on the future path of interest rates after minutes from the Fed’s March meeting showed officials hadn’t changed their outlook on monetary...
Financial Times  Apr 11  Comment 
The dollar falls after the Federal Reserve’s rate-setting committee suggests loose policy will last longer than previously intimated
Forbes  Apr 11  Comment 
It goes without saying that the actions of the Federal Reserve have the single greatest influence on interest rates. These Fed influences encompass not only its formal statements, but also comments made by the chairperson and other Fed officials.
Forbes  Apr 11  Comment 
Dollar bulls expecting to score on the back of diverging rates between a hawkish Federal Reserve and dovish European Central Bank (ECB) are now in full retreat. With the release of the dovish Federal Open Market Committee?s March meeting...
Bloomberg  Apr 11  Comment 
Treasuries Rise With 30-Year Yield at 9-Month Low on Fed View Treasuries rose, pushing 30-year bond yields to the lowest since July, on speculation the Federal Reserve isn’t...




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The Federal Reserve is the third central bank of the USA. It was legally established on December 23, 1913, when US president Woodrow Wilson signed the Federal Reserve System Act. The Federal Reserve was blamed to have deepened the Great Depression after the crash of 1929. In a panicky reaction it then deflated money supply, causing a lasting and deep economic contraction.

In the inflationary period from 1973 - caused by the first oil shock - to 1981 chairman Paul Volcker managed to battle inflation successfully by raising the leading interest rate to more than 20%. At the same time Volcker succeeded in keeping the economy out of a drawn-out recession.

The policy style changed with the nomination of Alan Greenspan in 1987. Only 2 months into office Greenspan was confronted with the Black Monday of 1987, when the Dow Jones Industrials Average fell 22%, its biggest loss ever in a day. Remembering the fatal results of tight liqudity after the crash of 1929 Greenspan offered banks all the funds they needed in order to avoid a meltdown of the stock market. Alan Greenspan can also be credited with blowing up the biggest debt bubble of all times in the new millennium. By lowering the Fed Funds rate to a record low of 1% the Federal Reserve contributed heavily to the American housing boom that turned out to be a bubble based on easy credit. Greenspan conceded in 2008 to Congress that he erred on wrong side when the Federal Reserve thought that the financial industry should not be burdened with more oversight. At this time the USA had fallen in the biggest financial crisis ever.

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The Federal Reserve Banks

The 12 Federal Reserve Banks were established by Congress as the operating arms of the nation's central banking system. Many of the services provided to depository institutions and the federal government by this network of Reserve Banks are similar to services provided by commercial banks and thrift institutions to business customers and individuals.

Reserve Banks

  • hold the cash reserves of depository institutions and make loans to them
  • move currency and coin into and out of circulation, and collect and process millions of checks each day
  • provide checking accounts for the Treasury, issue and redeem government securities, and act in other ways as fiscal agent for the U.S. government
  • supervise and examine commercial banks that are members of the Federal Reserve System for safety and soundness
  • participate in the activity that is the primary responsibility of the Federal Reserve System, the setting of monetary policy.
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