1. Kevin Mittler

2.  Created in 1913 by the Federal Reserve Act  Several attempts at a central banking system had been made before

3.  We will now watch a brief portion of the following video  http://www.youtube.com/watch?v=iYZM58d ulPE http://www.youtube.com/watch?v=iYZM58d ulPE

4.  Pursue maximum employment, stable prices, and moderate interest rates  Provide supervision over the nation’s banking to ensure stability and protect citizens  Maintain stability and minimize risk in the financial system

5.  Protect against runs on banks  Expand and contract the supply of money  Act as a central bank  Set monetary policy  Open market operations  Discount rate  Reserve requirements

6.  Currently printed currency of the United States  A form of fiat money

7.  Both public and private aspects  Independent within the government  4 major parts:  Board of Governors  Federal Reserve Banks  Member Banks  Federal Open Market Committee

8.  7 members who serve 14 year terms  Appointed by the President, confirmed by the Senate  Chairman and Vice-Chairman designated from the board by the president to serve a 4-year term

9.  12 Federal Reserve Banks  25 Branches  Regulated by Board of Governors  Each bank has its own board of directors and president

11.  Consists of Board of Governors and 5 representatives from Federal Reserve Banks  Makes decisions about interests rates and size of money supply

12.  Privately owned  Must buy stock in regional Federal Reserve Bank  All national banks, some state banks

13.  Anti-free market  Favors New York City  Legality  Great Depression  Private aspects  Lack of Transparency

14.  Creation of Federal Reserve  New World Order  Involvement in JFK assassination

15.  Proposed by Senate Banking Committee Chairman Christopher Dodd  Drastically reduces power of the Federal Reserve  Prevent Federal Reserve from giving loans to banks on the verge of failure  A similar bill is currently in the House

16.  http://www.finweb.com/banking-credit/the- federal-reserve-system.html http://www.finweb.com/banking-credit/the- federal-reserve-system.html  http://www2.fdic.gov/idasp/index.asp http://www2.fdic.gov/idasp/index.asp  http://www.frbatlanta.org/ http://www.frbatlanta.org/  Associated Press