1. The Federal Reserve

2. What is it?
An organization organized like a corporation – owned by member banks, and directed by a government appointed board

3. Organization of the Fed.
Directed by a 7 member Board of Governors
Each member is appointed by the president and approved by the senate
Serve for 14 years
There are 12 independent banks and each reserve bank is responsible for a district
An advisory commiittee advises the board and consists of representatives from each bank
They meet 8 times a year to review the economy

4. The Fed. And Monetary Policy
Monetary policy is the primary role of the fed – here, they make changes in the money supply
Monetary policy is based on supply and demand

5. In groups…
Each group gets one term – you must define that term and explain its role in fiscal policy
There must be an illustration or example for each term