United States Federal Reserve System:

The Federal Reserve System or the Fed was established by President Wilson in December 1913 to promote the development of a stable, flexible, and safer financial system in the country. President Wilson enacted the Federal Reserve Act, which was a conclusion of the findings of a commission that was mandated with the task of examining the 1907 severe bank panic. Since its inception, the Federal Reserve System has served as the gatekeeper of the U.S. economy and the country's central bank. Furthermore, this financial institution regulates other monetary institutions, affects the economy, and controls America's money. The Fed achieves its functions by carrying out various activities that either slows down or stimulate the economy. The main duties of the Fed include conducting U.S. monetary policy, offering financial services and liquidity, and supervising and regulating banks.

Federal Reserve and the Discount Rate:

Discount rate can be...
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