TAKEN FROM VIDEO The Fed Today

The Federal Reserve The Federal Reserve is known as the ……….? Central Bank of the United States

The FEd In What year was the Federal Reserve created? 1913

The Federal Reserve What was the essential purpose of the Fed? Establish and maintain the public’s confidence in our monetary and banking system?

The Federal Reserve What president signed the Federal Reserve Act to promote a Central Bank and Central Currency? President Woodrow Wilson

The Federal Reserve Who appoints the Board of Governors? The President

Federal Reserve What is the Fed’s Main Goal Maintain a Stable Economy Stable prices Steady Growth

The Federal Reserve What committee works to maintain price stability? Open Market Committee

The Federal Reserve As supply of Money grows faster than production of goods and services, what tends to happen? Inflation or Recession Inflation

The Federal Reserve What is “Settlement”. What does this mean as it relates to the Fed. Transferring value from one bank to another

The Federal Reserve List 2 goals of the Fed in its supervisory and regulatory role with banks? Maintain Stable and Healthy Economic System Promote Safety and Soundness of Banks

The Federal Reserve List one Service the Fed provides in its Supervisory Role of Financial Services Transferring payments from one bank to another

The Federal Reserve Name the 2 Types of Electronic Transfers the Fed provides Transfer of Funds (large amounts) Automated Clearing House (ACH) (small recurring amounts)