Transcript Federal Reserve System - Gustavus Adolphus College

Federal Reserve System
By: Anhthi Tran
FTS-Money
Structure of The Federal
Reserve System
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Board of
Governors
12 Federal Reserve
Districts
Monetary Policy (FOMC)
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Main Purpose
Three Tools
Open Market
Operations
Discount Rate
Reserve
Requirements

Structure of the
FOMC
Off the Gold Standard
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Fiat Money
World War II
August 15, 1971,
Nixon
Federal Reserve Note
Legal Tender
 United States notes
 BEP
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Check Currency
Reasons Why a check is a currency
- Bill of Exchange
- Unit of comparison
- Established as a payment
- Replacement for Hard Money
Check Clearing
Another Purpose
 How it works
-verify
-convert
 Check 21
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Questions?