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Federal Reserve Board

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Federal Reserve Board
The 7-member Board of Governors that oversees Federal Reserve Banks, establishes monetary policy (Interest rates, credit, etc.), and monitors the economic health of the country.
    
Its members are appointed by the President subject to Senate confirmation, and serve 14-year terms. also called the Fed. The Federal Reserve System is the central banking system of the United States, created in 1913 by the enactment of the Federal Reserve Act, it is a government entity with private components banking system. It is composed of  the presidentially appointed Board of Governors of the Federal Reserve System in Washington, D.C., the Federal Open Market Committee; 12 regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; numerous private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and  various advisory councils.
Posted by  Institute for International Research
 
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