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The Federal Reserve Explained—[AP Macroeconomics Review]
Posted
November 10, 2018
Views
18,868
Likes
520
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Engagement
2.88%
November 10, 2018
18,868
520
23
2.88%
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9:51Now PlayingIn this video Heimler explains what the Federal Reserve is and what the Federal Reserve does.
Created by legislation in 1913, the Federal Reserve isn't quite a governmental entity and not quite a private entity. The Fed was created because of the constant bank failures at the end of the 19th century and the beginning of the 20th century, specifically the Panic of 1907.
The Federal Reserve was created in order to be a major player in monetary policy in the U.S. economy. Additionally, the Fed regulates the behavior of banks all over the country. The main means of regulation is the reserve requirement which requires that banks keep a certain percentage of its deposits in its vaults. The reserve requirement determines (in large part) how much money banks can create by loaning out funds to households and investors.
The current chair of the Fed's Board of Governors is Jamie Powell.
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