Submitted by ichsmom on March 28, 2008

• Category: Business
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Monetary Policy

Monetary Policy
Created by Congress in1913, the Federal Reserve System is the central bank of the United States. The Federal Reserve is structured by a seven person Board of Governors who sits in Washington, D.C. and 12 district banks located in major U.S. cites. As part of the Federal Reserve System, the Federal Open Market Committee is charged with monetary policymaking. The intention is to find the appropriate balance to promote a thriving economy, maximum employment levels, price stability, and advantageous international trade policies (Federal Reserve System, 2006).
The 12 district branches were instituted by Congress as the operating branches of the system. These...

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