the federal reserve the federal reserve the central bank of the united states
TRANSCRIPT
![Page 1: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/1.jpg)
The Federal Reserve
![Page 2: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/2.jpg)
The Federal ReserveThe Central Bank of the United States
![Page 3: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/3.jpg)
The Federal Reserve
Main job: to regulate or “control” the size of the supply of money,
the total amount of money in circulation
http://www.youtube.com/watch?v=rUzrMfDKI-E(2:30 into the clip see making of money)
![Page 4: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/4.jpg)
Q: Who is the current Chairman of the Federal
Reserve?
![Page 5: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/5.jpg)
Oh! Oh! That’s me! Ben
Bernanke!
http://video.aol.com/video-detail/cnbccom-fed-chairman-ben-bernanke-testimony/3007286962(testifying before House committee) (16:27)
http://video.aol.com/video-detail/ben-bernanke-holds-qandampa-session/3681234450 (good Q & A session) (20:44)
http://www.youtube.com/watch?v=usiFU3FEv9w(Ron Paul confronts Bernanke) (3:32)
![Page 6: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/6.jpg)
How & Why is the Fed independent?
• Congress wanted Fed to make best decisions possible, even if contrary to public opinion
• Governors serve for year term
• Funding: no money from Congress; operating expenses paid from interest on the assets it holds
I’m indepen-
dent
![Page 7: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/7.jpg)
Federal Reserve Structure
Meets 8 times a year to vote on Monetary Policy
Federal Reserve
Board of Governors
(7 members)
Ben BernankeChairman
Federal Open Market Committee= 7 Governors + 5 District Bank Presidents—meets 8 timesper year
12 District FederalReserve Banks
BostonSan FranciscoNew YorkAtlantaChicagoDallas, etc.
Member Banks
All national banks
Some state banks
Federal Funds Rate = Interest ratethat the 12 District banks charge Each other on overnight loans
Discount Rate=Interest rate that the Fed lends money directly to District Banks
(rarely used) SF Fed Building—Market Street
![Page 8: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/8.jpg)
Hi! Remember me, Ben
Bernanke!
![Page 9: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/9.jpg)
Now that you know what our Chairman looks like, it’s time to play a short round
of…
![Page 10: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/10.jpg)
Can YOU Spot Him?
![Page 11: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/11.jpg)
Great Job!
![Page 12: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/12.jpg)
![Page 13: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/13.jpg)
![Page 14: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/14.jpg)
There he is!
![Page 15: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/15.jpg)
BEN BERNANKE?
![Page 16: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/16.jpg)
![Page 17: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/17.jpg)
Ben Bernanke is too busy dealing with the economic crisis; he doesn’t have time to go to the carnival!
![Page 18: The Federal Reserve The Federal Reserve The Central Bank of the United States](https://reader036.vdocuments.us/reader036/viewer/2022081519/56649f1d5503460f94c346a4/html5/thumbnails/18.jpg)
Video
Ben Bernanke Interview on 60 Minutes 3/22/09
--during the segment write down three observations, opinions and/or interesting facts learned
http://www.cbsnews.com/stories/2009/03/12/60minutes/main4862191.shtml60 Minutes—Ben Bernanke Interview Part I (13:24)60 Minutes—Ben Bernanke Interview Part II (13:14)