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    Federal Reserve Bank: Central Bank of the United States

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    The current Central Bank of the United States is the Federal Reserve founded in 1913.

    Your supervisor came into the office this morning very upset. He informs you that he attended a meeting the previous evening where he learned that the Federal Reserve was organized, illegally, through a conspiracy of private citizens; many included rich industrialists from Europe. He also discovered that the sole purpose of the Federal Reserve is to make money for these rich industrialists. He asks you to research the Federal Reserve and answer three questions:

    1. Is the Federal Reserve a legal entity?
    2. What influence has it had on financial markets, especially this last year?
    3. Would the country be better off without a Federal Reserve?

    Respond with a four to 5 paragraphs memo, in business format.

    Follow up with a continuing dialog this week on whether or not the Federal Reserve behaves in a socially responsible manner, and whether or not it should be disbanded.

    Your work MUST include a reference list. All research should be cited in the body of the paper. Reports without citations are unacceptable. Your report should contain a short introduction and conclusion in addition to the body of the paper. Please note that if you have a source in your reference section, you need to cite it in the body of the paper per APA guidelines and vice-versa.

    In your own words, please post a response to the Discussion Board and comment on other postings. You will be graded on the quality of your postings.

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    Solution Preview

    The response addresses the queries posted in 591 words with references.

    //Before writing about the legal position of Federal Reserve, it is essential to gain knowledge about the foundation and operations of Federal Reserve. One should know about the business format of Federal Reserve to analyze it in an effective manner//


    Date: July 10, 2008

    To: The Supervisor

    Subject: Federal Reserve Bank

    This memo will help you to understand the stability of Federal Reserve System and make you know whether the system should be continued or eliminated in the U.S.

    The Federal Reserve Bank is the central banking system of the United States. It was founded in 1913 by the enactment of the Federal Reserve Act. At present, there are 12 regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. It is a controversial institution. This institute virtually controls the nation's monetary system but is not accountable to anyone. It has no ...

    Solution Summary

    This solution discusses teh operationgs of the Federal Reserve, its legal position and influence, and what the country would be like without the Fed in 471 words with two APA references.