Federal Reserve

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The Economic Times  27 min ago  Comment 
The US Federal Reserve will probably raise interest rates twice this year, with the first increase in almost a decade coming as early as next month
newratings.com  1 hr ago  Comment 
WASHINGTON (dpa-AFX) - The dollar was slightly stronger versus major rivals Thursday, taking back some of this week's losses versus the euro and yen. Traders are going back and forth on whether the Federal Reserve will delay an interest rate...
MarketWatch  2 hrs ago  Comment 
J.P. Morgan unveils a list of 100 companies that it expects to benefit from the housing recovery.
Benzinga  2 hrs ago  Comment 
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show. Tesla Motors Inc (NASDAQ: TSLA) shares were trading higher by $2.50 at $240.67 in Thursday's session. Earlier, the company announced a $500 million...
Yahoo  6 hrs ago  Comment 
U.S. retail sales rebounded in July as households boosted purchases of automobiles and a range of other goods, suggesting the economy was growing solidly early in the third quarter and bolstering the case for a Federal Reserve interest rate hike....
Reuters  6 hrs ago  Comment 
REUTERS - Wall Street fell in morning trading on Thursday as strong U.S. economic data increased the likelihood that the Federal Reserve would raise interest rates in September, rather than later in the year.
The Economic Times  7 hrs ago  Comment 
India is attracting foreign institutional investors as interest rates here are high, but there are fears that they may withdraw if the Fed raises interest rate.
Reuters  9 hrs ago  Comment 
U.S. stocks edged higher in afternoon trading on Thursday as retail sales rebounded in July and Cisco shares jumped after its profit beat expectations.
Clusterstock  Aug 12  Comment 
By Dan Freed and Olivia Oran NEW YORK (Reuters) - U.S. bank stocks fell 1.9 percent on Wednesday as investors bet that a weaker yuan will delay the Federal Reserve rate hikes that are expected to boost bank profits.   The KBW Bank stock...
Yahoo  Aug 12  Comment 
Federal Reserve policies can benefit U.S. labor markets but cannot alone solve the so-called skills mismatch between workers and employers, New York Fed President William Dudley said on Wednesday. Dudley, in prepared remarks, stressed the need for...




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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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