Federal Reserve System
When does the FOMC meet?
8 times a year once every 6 weeks
When does the board of governors meet?
8 times a year, once every 6 weeks.
What is the federal open market committee? What is its structure? What us its primary function?
A body of the federal Reserve system that sets the national monetary policy. 12 voting members.
what are the three monetary policies of the federal reserve system?
discount rates, reserve requirements, open market operations.
What are the term lengths of the chairmen and voce chairmen of the board of governors?
four year terms
What is the primary responsibility of the board of governors?
oversee the operations of the 12 federal reserve banks.
Key functions of the federal reserve system in each of the following categories: Monetary policy Government service Depository Institution service
1. promote stable prices 2. promote maximum employment 3.
How long are the terms of the members of the board of governors?
14 year terms.
What is the organizational design of each federal reserve bank?
A network of 12 Federal Reserve Banks and 24 branches make up the Federal Reserve System under the general oversight of the Board of Governors.
Who appoints the members of the board? What body must confirm the appointments?
Appointed by the president, confirmed by the senate.
In what cities are the regional federal reserve banks located
Boston, New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, St. Louis, Minneapolis, Kansas City, Dallas, San Fransisco
Traditionally who serves as the chairmen and vice chairmen for the FMOC
Chair of the board of governors, head of the federal reserve bank.k
When was the federal reserve system created?
December 23, 1913
The federal system consists of what three things?
Federal Reserve Board of Governors, 12 reserve banks, federal open market committee.
Who is the current chairmen of the board of govenors? When was was he recently appointed to the position? When will his terms as chairmen of the board member end?
Janet Yellan. Appointed February 3 2014. terms ends February 3, 2018
How many members are on the board of governors of the federal reserve system?
Seven members
In what ways do federal Reserve Banks generate revenue?
open market operations
