Federal Open Market Committee

Federal Open Market Committee (FOMC)Federal ReserveFOMC
The Federal Open Market Committee was formed by the Banking Act of 1933 (codified at ), and did not include voting rights for the Federal Reserve Board of Governors. The Banking Act of 1935 revised these protocols to include the Board of Governors and to closely resemble the present-day FOMC, and was amended in 1942 to give the current structure of twelve voting members. Four of the Federal Reserve Bank presidents serve one-year terms on a rotating basis. The rotating seats are filled from the following four groups of banks, one bank president from each group: Boston, Philadelphia, and Richmond; Cleveland and Chicago; Atlanta, St.

Federal Reserve Bank of Boston

BostonBoston Federal ReserveFederal Reserve Bank
Federal Reserve System. Federal Reserve Districts. Federal Reserve Branches. Federal Reserve Act. Federal Reserve Bank Building (Boston). Structure of the Federal Reserve System. Boston Fed home page. History of the Boston Fed. Boston Branch. Annual Reports of the Federal Reserve Bank of Boston from 1916 to 1967.

Federal Reserve Bank of Chicago Detroit Branch

Detroit BranchDetroit Branch of the Federal Reserve Bank
Federal Reserve Act. Federal Reserve System. Federal Reserve Districts. Federal Reserve Branches. Federal Reserve Bank of Chicago. Federal Reserve Bank of Chicago Detroit Branch Building. Federal Reserve Bank of Chicago Detroit Branch Conference Center. Federal Reserve Bank of Chicago, Detroit Branch Building. List of counties in the 7th district. Money Smart Week. 2007 Money Smart Week Annual Report. List of Federal Reserve Branches and contact details. Federal Reserve System Online. Federal Reserve Bank of Chicago YouTube Channel. Detroit News-Detroit's Federal Reserve, where currency becomes confetti.

Washington, D.C.

WashingtonDistrict of ColumbiaWashington, DC
According to a 2010 study, Washington-area commuters spent 70 hours a year in traffic delays, which tied with Chicago for having the nation's worst road congestion. However, 37% of Washington-area commuters take public transportation to work, the second-highest rate in the country. An additional 12% of D.C. commuters walked to work, 6% carpooled, and 3% traveled by bicycle in 2010. A 2011 study by Walk Score found that Washington was the seventh-most walkable city in the country with 80% of residents living in neighborhoods that are not car dependent.

Structure of the Federal Reserve System

Federal Reserve Board of Governorsits independencePresident and CEO
For a list of the current members of the board of governors, see Federal Reserve Board of Governors. The Federal Open Market Committee (FOMC) created under comprises the seven members of the board of governors and five representatives selected from the regional Federal Reserve Banks. The FOMC is charged under law with overseeing open market operations, the principal tool of national monetary policy. These operations affect the amount of Federal Reserve balances available to depository institutions, thereby influencing overall monetary and credit conditions. The FOMC also directs operations undertaken by the Federal Reserve in foreign exchange markets.

Central bank

central bankscentral bankingcentral banking system
Federal Reserve, the Federal Reserve Board of Governors. Both the Federal Reserve and the ECB are composed of one or more central bodies that are responsible for the main decisions about interest rates and the size and type of open market operations, and several branches to execute its policies. In the case of the Federal Reserve, they are the local Federal Reserve Banks; for the ECB they are the national central banks. A typical central bank has several interest rates or monetary policy tools it can set to influence markets. These rates directly affect the rates in the money market, the market for short term loans.

Federal Reserve Bank of New York

New YorkNew York FedFederal Reserve Bank
Since the founding of the Federal Reserve banking system, the Federal Reserve Bank of New York in Manhattan's Financial District has been the place where monetary policy in the United States is implemented, although policy is decided in Washington, D.C. by the Federal Reserve Board of Governors. The New York Fed is the largest in terms of assets of the twelve regional banks. Operating in the financial capital of the U.S., the New York Fed is responsible for conducting open market operations, the buying and selling of outstanding U.S. Treasury securities. The Trading Desk is the office at the Federal Reserve Bank of New York that manages the FOMC Directive to sell or buy bonds.

Federal Reserve Bank of Dallas

DallasDallas FedFederal Reserve Bank
Federal Reserve Bank of Dallas El Paso Branch. Federal Reserve Bank of Dallas Houston Branch. Federal Reserve Bank of Dallas San Antonio Branch. Federal Reserve Act. Federal Reserve System. Federal Reserve Bank. Federal Reserve Districts. Federal Reserve Branches. Structure of the Federal Reserve System. Federal Reserve Bank of Dallas El Paso Branch. Federal Reserve Bank of Dallas Houston Branch. Federal Reserve Bank of Dallas San Antonio Branch. Dallas Fed home page. Map of the District.

List of Federal Reserve branches

Federal Reserve Bank of Atlanta Nashville Branch. Federal Reserve Bank of Atlanta New Orleans Branch. Chicago. Federal Reserve Bank of Chicago Detroit Branch. St Louis. Federal Reserve Bank of St. Louis Little Rock Branch. Federal Reserve Bank of St. Louis Louisville Branch. Federal Reserve Bank of St. Louis Memphis Branch. Minneapolis. Federal Reserve Bank of Minneapolis Helena Branch. Kansas City. Federal Reserve Bank of Kansas City Denver Branch. Federal Reserve Bank of Kansas City Oklahoma City Branch. Federal Reserve Bank of Kansas City Omaha Branch. Dallas. Federal Reserve Bank of Dallas El Paso Branch. Federal Reserve Bank of Dallas Houston Branch.

Federal Reserve Act

1913 establishment of the Federal Reserveestablishment of the Federal ReserveFederal Reserve Act of 1913
Text of the current Federal Reserve Act, Board of Governors of the Federal Reserve System. Text of Federal Reserve Act as laid out in the U.S. Code, Cornell Law School. The original Federal Reserve Act, including the signature of Woodrow Wilson. The original Federal Reserve Act, and index. Paul Warburg's Crusade to Establish a Central Bank in the United States by Michael A. Whitehouse, 1989. The Federal Reserve System In Brief – An online publication from the Federal Reserve Bank of San Francisco. The Federal Reserve Act of 1913 – A Legislative History, Law Librarians' Society of Washington, DC, Inc., 2009. Historical documents related to the Federal Reserve Act and subsequent amendments.

Federal Reserve Bank of Atlanta

AtlantaAtlanta FRBAtlanta Monetary Museum
Federal Reserve Bank of Atlanta Birmingham Branch Office. Federal Reserve Bank of Atlanta Jacksonville Branch Office. Federal Reserve Bank of Atlanta Miami Branch Office. Federal Reserve Bank of Atlanta New Orleans Branch Office. Federal Reserve Bank of Atlanta Nashville Branch Office. Federal Reserve Act. Federal Reserve Bank. Federal Reserve Branches. Federal Reserve Districts. Federal Reserve System. Structure of the Federal Reserve System. Federal Reserve Bank of Atlanta. Federal Reserve Bank Presidents. Historical resources by and about the Federal Reserve Bank of Atlanta including annual reports back to 1915.

Federal Reserve Bank of Cleveland

ClevelandFederal Reserve BankFourth District Federal Reserve Bank
Class C directors are appointed by the Board of Governors to represent the public. Terms always expire on December 31 of their final year on the board. Federal Reserve Act. Federal Reserve Bank of Cleveland Cincinnati Branch Office. Federal Reserve Bank of Cleveland Pittsburgh Branch Office. Federal Reserve System. Federal Reserve Districts. Federal Reserve Branches. Structure of the Federal Reserve System. Images and architectural information. Historical resources by and about the Federal Reserve Bank of Cleveland including annual reports back to 1916.

Eccles Building

Federal ReserveFederal Reserve Board BuildingFederal Reserve Building
Eccles Federal Reserve Board Building houses the main offices of the Board of Governors of the Federal Reserve System. It is located at 20th Street and Constitution Avenue, N.W., in Washington, D.C. The building, designed in the stripped classicism style, was designed by Paul Philippe Cret and completed in 1937. President Franklin Delano Roosevelt dedicated the building on October 20, 1937. The building was named after Marriner S. Eccles (1890–1977), Chairman of the Federal Reserve under President Roosevelt, by an Act of Congress on October 15, 1982. Previously it had been known as the Federal Reserve Building.

Federal Reserve Bank of Philadelphia

PhiladelphiaPhiladelphia FedPhiladelphia FRB
Old Federal Reserve Bank Building (Philadelphia). Structure of the Federal Reserve System. The Philadelphia Fed's home page. A map of the third district. Public Statements of Karl Bopp, former President of the Federal Reserve Bank of Philadelphia. Public Statements of David P. Eastburn, former President of the Federal Reserve Bank of Philadelphia.

Federal Reserve Bank of St. Louis

St. LouisSt. Louis FedSt Louis
The Federal Reserve Bank of St. Louis is one of 12 regional Reserve Banks that, along with the Board of Governors in Washington, D.C., make up the United States' central bank. Missouri is the only state to have two main branches of Federal Reserve Banks. (Kansas City also has a bank). Located in downtown St. Louis, the St. Louis Fed is the headquarters of the Eighth Federal Reserve District, which includes the state of Arkansas and portions of Illinois, Indiana, Kentucky, Mississippi, the eastern half of Missouri and West Tennessee. It has branches in Little Rock, Louisville and Memphis. Its building, at 411 Locust Street, was designed by St. Louis firm Mauran, Russell & Crowell in 1924.

Federal Reserve Bank of Kansas City

Kansas CityFederal Reserve BankJackson Hole conference
Federal Reserve Bank of Kansas City Denver Branch. Federal Reserve Bank of Kansas City Oklahoma City Branch. Federal Reserve Bank of Kansas City Omaha Branch. Structure of the Federal Reserve System. Kansas City Fed home page. Kansas City Money Museum. The old main office building is at coordinates 39.10343°N, -94.58093°W.

Federal Reserve Bank of San Francisco

San FranciscoSan Francisco FedSan Francisco FRB
There is also a Federal Reserve Bank of San Francisco building in Los Angeles. The 1929 built building is also NRHP-listed. From 1951 to 2008, the Seattle branch was headquartered at the Federal Reserve Bank Building in Downtown Seattle, which had been built in 1951 for the branch and is listed on the NRHP. The following people serve on the board of directors : Federal Reserve Bank of San Francisco, Los Angeles Branch. Federal Reserve Bank of San Francisco, Phoenix Branch. Federal Reserve Bank of San Francisco Portland Branch. Federal Reserve Bank of San Francisco Salt Lake City Branch. Federal Reserve Bank of San Francisco Seattle Branch. Federal Reserve Act. Federal Reserve System.

George W. Mitchell

George Mitchell
George Wilder Mitchell (February 23, 1904 – January 25, 1997) was an American economist, who served as the Vice Chairman of the Board of Governors of the Federal Reserve System from May 1973 to February 1976. Before that he was a Federal Reserve Governor for 12 years and a long-time staffer at the Federal Reserve Bank of Chicago. He was an early promoter of electronic banking. Mitchell was born on February 23, 1904, to George Ray and Minnie Mitchell in rural Richland Center, WI. He graduated from the University of Wisconsin in 1925. After graduating, he worked as a research assistant at the University of Iowa and the University of Chicago until 1932.

List of regions of the United States

Regionregions of the United StatesIntrastate regions
The Federal Reserve Act of 1913 divided the country into twelve districts with a central Federal Reserve Bank in each district. These twelve Federal Reserve Banks together form a major part of the Federal Reserve System, the central banking system of the United States. Missouri is the only U.S. state to have two Federal Reserve locations within its borders, as some states are divided into more than one district. The Federal Circuit is not a regional circuit. Its jurisdiction is nationwide, but based on subject matter. The Bureau of Economic Analysis defines regions for comparison of economic data.

Bank holding company

bank holding companiesholding companyfinancial holding company
All bank holding companies in the US are required to register with the Board of Governors of the Federal Reserve System. The Federal Reserve Board of Governors, under Regulation Y has responsibility for regulating and supervising bank holding company activities, such as establishing capital standards, approving mergers and acquisitions and inspecting the operations of such companies. This authority applies even though a bank owned by a holding company may be under the primary supervision of the Office of the Comptroller of the Currency or the Federal Deposit Insurance Corporation. Becoming a bank holding company makes it easier for the firm to raise capital than as a traditional bank.

Emergency Economic Stabilization Act of 2008

Emergency Economic Stabilization ActPaulson financial rescue planWall Street bailout
The Secretary is required to consult with the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation, the Comptroller of the Currency, the Director of the Office of Thrift Supervision, and the Secretary of Housing and Urban Development when running the program. The bill authorizes $700 billion for the program. The Treasury Secretary has immediate access to the first $250 billion. Following that, an additional $100 billion can be authorized by the President.