The Creation Of Money
Running head: Macroeconomic Impact on Business Operations
University of Phoenix
MBA 501
October 4, 2006
As my economics teacher, Tim Hamilton, use to say "The Fed is not the Government!!!!" This leads to the question, what is the Fed? The Federal Reserve Bank, commonly referred to as the Fed was created in 1913 due to numerous bank panics of the time. "Demand for the creation of a centralized banking system was strong after a series of bank panics, in 1873, 1893, and 1907." (Moen & Tallman, 2003) The Federal Reserve is the central banking system of the United States.
The Federal Reserve
The basic structure of the Federal Reserve System includes the Board of Governors, Federal Open Market Committee, Federal Reserve Banks and member banks.
The Board of Governors consist of seven members appointed by the President and confirmed by the Senate. Members are selected to terms of 14 years with the ability to serve for no more than one term. The Federal Open Market......
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Approximate Word Count: 2205
Approximate Pages: 9 (250 words per double-spaced page)
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