Explore BrainMass

Explore BrainMass

    Federal Reserve

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    What is your understanding of what the Federal Reserve is and what effect it has on the economy

    © BrainMass Inc. brainmass.com June 3, 2020, 5:20 pm ad1c9bdddf
    https://brainmass.com/business/accounting/federal-reserve-22389

    Solution Preview

    Use of the following has been made while framing the answer:

    http://www.thisnation.com/question/033.html

    The Federal Reserve is an independent central bank. It was created by the Congress in 1913 for the establishment of Federal reserve banks, for providing currency, for supervision of the banking system in the United States, for providing means of rediscounting commercial paper and for other purposes. It is independent since its decisions do not have to be ratified by the President or the Congress. However while it is an independent institution, it is still accountable to the Congress. The power of coining money and setting its value was ...

    Solution Summary

    The effect of Federal Reserve on the economy is discussed.

    $2.19

    ADVERTISEMENT