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The Federal Reserve

The Federal Reserve. The Federal Reserve. The Central Bank of the United States. The Federal Reserve. Main job: to regulate or “control” the size of the supply of money, the total amount of money in circulation. http://www.youtube.com/watch?v=rUzrMfDKI-E

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The Federal Reserve

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  1. The Federal Reserve

  2. The Federal Reserve The Central Bank of the United States

  3. The Federal Reserve Main job: to regulate or “control” the size of the supply of money, the total amount of moneyin circulation http://www.youtube.com/watch?v=rUzrMfDKI-E (2:30 into the clip see making of money)

  4. Q: Who is the current Chairman of the Federal Reserve?

  5. Oh! Oh! That’s me! Ben Bernanke! http://video.aol.com/video-detail/cnbccom-fed-chairman-ben-bernanke-testimony/3007286962 (testifying before House committee) (16:27) http://www.youtube.com/watch?v=usiFU3FEv9w (Ron Paul confronts Bernanke) (3:32) http://video.aol.com/video-detail/ben-bernanke-holds-qandampa-session/3681234450 (good Q & A session) (20:44)

  6. How & Why is the Fed independent? • Congress wanted Fed to make best decisions possible, even if contrary to public opinion • Governors serve for year term • Funding: no money from Congress; operating expenses paid from interest on the assets it holds I’m indepen- dent

  7. Federal Reserve Structure Discount Rate=Interest rate that the Fed lends money directly to District Banks (rarely used) SF Fed Building—Market Street 12 District Federal Reserve Banks Federal Reserve Meets 8 times a year to vote on Monetary Policy Federal Open Market Committee= 7 Governors + 5 District Bank Presidents—meets 8 times per year Board of Governors (7 members) Ben Bernanke Chairman Boston San Francisco New York Atlanta Chicago Dallas, etc. Federal Funds Rate = Interest rate that the 12 District banks charge Each other on overnight loans Member Banks All national banks Some state banks

  8. Hi! Remember me, Ben Bernanke!

  9. BEN BERNANKE • Now that you know what our Chairman looks like, it’s time to play a short round of…

  10. Can YOU Spot Him?

  11. Great Job!

  12. BEN BERNANKE

  13. There he is!

  14. BEN BERNANKE?

  15. Ben Bernanke is too busy dealing with the economic crisis; he doesn’t have time to go to the carnival!

  16. Video Ben Bernanke Interview on 60 Minutes 3/22/09 --during the segment write down three observations, opinions and/or interesting facts learned http://www.cbsnews.com/stories/2009/03/12/60minutes/main4862191.shtml 60 Minutes—Ben Bernanke Interview Part I (13:24) 60 Minutes—Ben Bernanke Interview Part II (13:14)

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