Monetary Policy Flashcards
1
Q
What is the Federal Reserve System?
A
The central bank of the US
2
Q
What are the 3 main responsibilities of the Federal Reserve?
A
- Oversee the stability of the banking system
- Conduct monetary policy to the end of fighting inflation and unemployment
- Stimulating economic growth
3
Q
When and how as the US Federal Reserve System created?
A
By an act of Congress in 1913.
4
Q
Who are the Board of Governors of the Federal Reserve System chosen by?
A
President and confirmed by Congress
5
Q
Who is the Fed’s budget overseen by?
A
Committee of Congress
