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What is Federal Reserve System?
Many students opt for Federal Reserve System homework help because they do not understanding the very concept of the policies that are formulated by such a body. To understand that and to proceed further in economics, it is essential to understand what this body is. The Federal Reserve System is the central banking system in the United States, created along with the enactment of the Federal Reserve Act which was in response to various financial panics present especially the panic of 1907.
The Federal Reserve System is an authoritative body that keeps an eye on the economy of the country. It comprises of a Board of Governors who are appointed by the president himself. They control and are concerned mainly with the economic conditions and the functioning of this body.
It also consists of the Federal Open Market committee which is responsible for the monetary policy making, twelve Federal Reserve Banks located in major cities, numerous private banks owned by U.S Members and a number of advisory councils.
What is its function?
The main function of this body is to provide with financial services, make monetary policies and supervise and regulate others. Thus, the topic is pretty dreary which is why students might opt for Federal Reserve System homework help.
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