The Federal Reserve System and Monetary Policy Serving as the central banking system and monetary authority of the United States, The Federal Reserve System contains a great amount of importance in today’s economy. Founded by Congress in 1913, the system was made to provide a safer, more flexible monetary and financial environment. Acting as the nation’s financial institution, the Federal Reserve System has provided the government and the society with an organized yet controlled …showed first 75 words of 283 total…

…showed last 75 words of 283 total…and agreement corporations, foreign activities of member banks, and the U.S. activities of foreign-owned banks. Also being responsible for administration and development limits for credit vast payment systems, the members usually have their hands full. As they carry out their duties, the Board still manages to have weekly meeting, which are usually open to the public. With the suggestions of their fellow members and the community, they can easily help run a safe system.