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Beginning of Paper
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In exploring monetary policy in the United States, it is essential to define what is
meant by monetary policy. Monetary policy can be defined as the policy decisions and actions by the Federal Reserve System (Fed) that affect the banking system and money supply. This may seem vague, but by decisions and actions, we mean the ....
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Middle of Paper
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.... The US is divided into 12 Federal Reserve districts, each having its own Federal Reserve bank. (These districts can also be seen in the Appendix.) The district banks are like branch offices of the Fed, carrying out the rules, regulations, and functions of the Fed. The banks report to the Board of Governors on local economic conditions.
The US monetary policy is formally set by the Federal Open Market Committee (FOMC). The FOMC consists of the seven members of the Board of Governors, the president of the NY Federal Reserve Bank, and, on a rotati ....
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SUBJECTS
