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Role of Federal Reserve and It's Impact on the Economy

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Explained the role of the U.S. Federal Reserve, the Federal Reserve Chairman, and Board, indicating its effectiveness in today's economic environment.

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Solution Summary

This solutions provides an overview of the role of the Federal Reserve and how their monetary policies impact the economy.

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The role of the Federal Reserve is to guide the U.S. economy in the right direction through monetary policy that promotes maximum employment and price stability. In layman's terms, the reserve wants as many Americans as possible who want jobs to have jobs while keeping the rate of inflation restrained. The Board of Governors is the policy making body of the Federal Reserve Board that consists of seven members; among those members is the Chairman. This board sets the general framework for the regulation of the commercial banking system. These seven members also form the core of the Federal Open Market ...

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