1. THe Federal Reserve
... acts as a fiscal agent for the United States government and is custodian of the reserve accounts commercial banks, makes loans to commercial banks, and is authorized to issue Federal Reserve notes that constitute the entire supply of paper currency of the country. Created by the Federal Reserve Act of 1913, the 12 Federal Reserve banks, the Federal Open Market Committee, and ... whom are appointed by the Board of Governors of the Federal Reserve System. The Federal Reserve banks are located in Boston, New York, Philadelphia, Chicago, San Francisco, Cleveland, Ohio; Richmond, Virginia; A...
- Word Count: 2737
- Approx Pages: 11
- Has Bibliography
- Grade Level: Undergraduate