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Essay / Research Paper Abstract
This 5 page paper provides an overview of the Federal Reserve Bank as well as the role of fiscal policy on the U.S. economy. Examples are provided and terms are defined. Bibliography lists 4 sources.
Page Count:
5 pages (~225 words per page)
File: RT13_SA115fed.doc
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Unformatted sample text from the term paper:
stock market was significant and while Wall Street watchers waited for news, they also watched Federal Reserve Chairman Alan Greenspan like a hawk. What would he say? What would he
do? The market reacts to his every move. What the Federal Reserve does in respect to raising rates and so forth does affect homebuyers and investors directly. However, fiscal policy
and manipulation of interest rates is related to a complex function that the Federal Reserve embraces. The Federal Reserve Board essentially oversees the Federal Reserve Banks which is the entity
that bankers go to when they need cash (Ebersole, 1995). The New York Fed today holds more than $400 billion worth of currency and gold reserves in a vault that
is actually located 80 feet below street level (Hill, 1999). Not unlike the Gotham City Batman tries to protect, the FRB really exists in all its complexity and mystery in
a lower area of New York City. It is also physically about half the size of a football field (1999).
The Feds other reserve banks are located in Boston, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Minneapolis, Dallas, San Francisco, St. Louis, and Kansas City (Hill, 1999). Each of these banks has
their own board of nine outside directors, which include representatives from banks and industries within the district (1999). Directors are the ones who appoint the reserve bank presidents and aside
from supervising banks, the Fed is also supposed to carry out a variety of banking laws that range from protecting the customers to mandating disclosures (1999). As part
of its operations, the Fed has the role of being able to increase or decrease the amount of cash in circulation as well as to raise or lower interest rates
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