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Monetary
Policy and the Federal Reserve System
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1.
Actor |
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There are
different institutions that are all having their part in
the conduct of monetary policy and the regulation of
commercial banks, investment banks and savings and loans
institutions. This section is devoted to the Federal
Reserve Bank. Other regulators as well as information on
capital and credit markets you find under this link. |
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FED |
This is
the entry to the FED websites. |
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Board
of Governors |
The
members of this board are appointed by the President and
confirmed by the Senate. The term of 14 years ensures
independence. |
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FOMC |
The
Federal Open Market Committee implements monetary
operations such as open market policy, discount rates
and reserve targets. It is the important decision making
body. |
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2.
Political Processes & History |
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With its
instruments, the FED influences money, capital and
credit markets. An easy guide to the policy and the
instruments used in the process, can be found here.
The guide also provides information on the limits of
monetary policy. In the following, the most important
dates are given: |
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1907 |
Rich
Man's Panic
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1908 |
Aldrich-Vreeland
Act
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1913 |
Owen-Glass
Federal Reserve Act (Glass Act) |
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1929 |
Crash
and start of Great Depression |
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1933 |
Glass-Steagall
Banking Act |
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1935 |
Banking
Act |
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1999 |
Gramm-Leach
Bliley Act |
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