The Federal Reserve system is the central bank of the United States and one of the world's most important, influential and prestigious financial organization. It was established by congress in 1931 with a primary objective of to provide the nation a safer, more flexible and more stable monetary and financial system. The Fed Reserve system is run by a board of Governors which is directly appointed by president of United States. The Fed includes 12 regional Reserve banks and their branch offices, as well as the Federal open Market Committee (FOMC).
Now let me tell about some major responsibilities of The Fed.-
1- Contributing to the formation of the nation's monetary policy by influencing monetary and credit condition in economy.
2- To make sure that the safety and soundness of the nation's banking and financial system, and protecting the credit rights of consumers through supervision and regulation.
3- To maintain the security and reliability of the financial system and containing systematic risks that may arise in financial markets.
4- To provide payment and financial services to the US government, financial institution and foreign financial institution.
5- Stores monetary gold for foreign central banks, government and official international agencies.
6- To implements monetary policy set by the FOMC.
Now let me tell about some major responsibilities of The Fed.-
1- Contributing to the formation of the nation's monetary policy by influencing monetary and credit condition in economy.
2- To make sure that the safety and soundness of the nation's banking and financial system, and protecting the credit rights of consumers through supervision and regulation.
3- To maintain the security and reliability of the financial system and containing systematic risks that may arise in financial markets.
4- To provide payment and financial services to the US government, financial institution and foreign financial institution.
5- Stores monetary gold for foreign central banks, government and official international agencies.
6- To implements monetary policy set by the FOMC.
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