Federal Reserve

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SeekingAlpha  1 hr ago  Comment 
Clusterstock  2 hrs ago  Comment 
By Peter Rudegeair NEW YORK (Reuters) - Executives at the biggest U.S. banks are sharing notes with each other before their next round of tests with federal regulators. Banks are struggling to figure out what exactly the U.S. Federal Reserve is...
The Economic Times  3 hrs ago  Comment 
Gold gave up some of its overnight gains on Tuesday on a stronger dollar and fears the Federal Reserve could soon raise US interest rates.
Reuters  6 hrs ago  Comment 
The Federal Reserve's vow to keep interest rates near zero for a "considerable time" is likely to remain in place for now, with the U.S. central bank set to take a slow and steady approach to its first rate rise in a decade.The pledge will be up...
Yahoo  6 hrs ago  Comment 
Oil prices skidded to fresh five-year lows on Tuesday, pressuring commodity-linked currencies and most Asian shares as a bout of risk aversion rippled through world markets. The urge for safety gave a ...
The Hindu Business Line  3 hrs ago  Comment 
Clusterstock  10 hrs ago  Comment 
By Michael Flaherty and Ann Saphir (Reuters) - The Federal Reserve's vow to keep interest rates near zero for a "considerable time" is likely to remain in place for now, with the U.S. central bank set to take a slow and steady approach to its...
MarketWatch  11 hrs ago  Comment 
The job openings, or JOLTS, report is of importance as the Federal Reserve deliberates on when to lift interest rates. Here’s what to watch for when the data is released on Tuesday.
Wall Street Journal  11 hrs ago  Comment 
Federal Reserve officials at their meeting next week are likely to affirm their plan to start raising short-term interest rates in 2015 and could begin by dropping their assurance that rates will stay low for a “considerable time.”
MarketWatch  Dec 8  Comment 
Despite the best showing for jobs growth in close to three years, momentum in the jobs market may be slowing, according to data released by the Federal Reserve on Monday.




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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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