What is the Federal Reserve

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Cities of Reserve Banks

1.Boston 2.New York 3.Philadelphia 4.Cleveland 5.Richmond 6.Atlanta 7.Chicago 8.St. Louis 9.Minnealapolis 10. Kansas City 11.Dallas 12.San Fransisco

Who manages the Fed

A board of Governors

The Board of Governors

It consist of 7 presidential Appointess(each of whos serves 14 terms) They all are confirmed by the senate

Who leads the Board

The chair and the vice chair for four year terms

Reserve Banks

There are total of 12 regional Banks in majjor cities

Why was the Federal Reserve Invented

To Implement Monetary Policy. This is an independent entity, but is oversight by congress.


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