Federal reserve

The Federal Reserve (known informally as "The Fed") was created in 1913 when President Woodrow Wilson signed the Federal Reserve Act into law, which effectively centralized America’s banking system. The Board of Governors is the presidentially appointed governing body.

The Federal Reserve has four basic functions, though it provides a variety of services to the United States Government. First, it influences market conditions by regulating national interest rates. Second, it supervises banking institutions and safeguards consumer credit rights. Third, it attempts to stabilize financial markets that would otherwise undermine the economic stability of the United States. Finally, it offers a variety of financial services to U.S. and internationally recognized foreign institutions.

The Federal Reserve also controls the discount rate (a basic interbank lending rate), and has the power to bail out major corporations, pending congressional approval - a power that is, however, highly contested in the political discourse.

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Latest blogosphere posts tagged “Federal reserve”

• No Need for New TARP: Fed Land Grab in Miller Amendment

  
  naked capitalism — Authority: 729
  We’ve commented repeatedly and disapproving of the increasing operation of the Fed as an off balance sheet vehicle of the Treasury, in violation of normal budgetary processes (as have some former central bankers, most notably Willem Buiter). Even thought Congress has been attempting to beat back the expansion of ...
  3 hours ago

• Banking Committee Sets Confirmation Vote for Bernanke

  
  S E N A T U S — Authority: 574
  The Senate Banking Committee “said on Tuesday it will vote December 17 on the confirmation of Federal Reserve Chairman Ben Bernanke for a second four-year term at the helm of the U.S. central bank,” Reuters reports. The committee said in a statement it would announce a time and location closer to the date. ...
  3 hours ago

• All About The Benjamins

  
  Top Gun Financial Planning — Authority: 121
  $ Index The last three days trading is all about the benjamins - the dollar, that is.  The better than expected Friday November Jobs Report has triggered a powerful rally in the dollar.  That’s because it has led investors to believe that the US economy is recovering giving the Fed cover to remove monetary ...
  4 hours ago

• Gold is Only 0.7% of Global Managed Assets

  
  Wall St. Cheat Sheet — Authority: 644
  This is a guest post by Jordan Roy-Byrne CMT at The Daily Gold . That is actually Gold and Gold equities. That is quite the bubble there……Not! I also found this nugget from 2006, from John Hathaway of the Tocqueville Gold Fund: “In the bleak days of 1935, the market cap of above-ground gold equaled 15 ...
  4 hours ago

• Gerald Celente Says Bernanke Has Devalued The Dollar And Destroyed The Economy

  
  Stupidica — Authority: 177
  Gerald Celente Says Bernanke Has Devalued The Dollar And Destroyed The Economy Politics / Central Banks Dec 08, 2009 - 03:22 AM By: Submissions Gerald Celente of the Trends Research Institute is strongly opposed to the idea of Ben Bernanke seeking and getting a second term as head of the Federal Reserve. Celente ...
  4 hours ago

• The Federal Reserve is Destroying the Value of the Dollar

  
  American Scofflaw — Authority: 134
  American Scofflaw The Federal Reserve debased our currency. Take a look at your coinage. See any gold or silver there? The founders of this nation knew that banks left to themselves, would substitute cheap metal tokens for real money. They had seen it happen in England, and they ...
  5 hours ago

• Senate Panel Wants To Decide Bernankes Fate On December 17, As Volcker Blasts Fin Innovation, Demands Return To Glass Steagal

  
  zero hedge — Authority: 751
  79% of Americas population (those who know who the Fed Chairman is, and unanimously want him never to step into the hallways of the Marriner Eccles building ever again) has 10 more days of hope, before a Senate panel votes against the broad desires of more than two thirds of Americas population, and votes for ...
  5 hours ago

• Unemployment: The bizarre prescription of L. Randall Wray – After note

  
  Re: The People — Authority: 129
  It struck us this morning, after re-reading this series of posts, that none of our arguments need have been made against Wray, since the logical fallacy of his views can be exposed with one question:How are the federal budget, and the current account deficits being funded right now?The answer is obvious: From a pool ...
  5 hours ago

• Federal Reserve Bank Spam Scam

  
  Bill Mullins' Weblog - Tech Thoughts — Authority: 138
  No, I’m not referring to the U.S. Federal Reserve as a scam, although there are more than a few, it seems, who think just that. Instead, I’m referring to the latest cybercriminal phishing scam which uses a phony “warning”, purportedly from the Federal Reserve Bank, which warns against – are you ready for ...
  5 hours ago

• Volcker Praises the ATM, Blasts Finance Execs, Experts

  
  WSJ.com: MarketBeat — Authority: 676
  Paul Volcker isn’t afraid to speak his mind. At The Wall Street Journal’s Future of Finance Initiative he tossed a few broadsides at a group of financial executives and policy makers.
  5 hours ago

• Fed Chief Warns of Rough Recovery

  
  Mortgage 101 Blog — Authority: 118
  Federal Reserve Chairman Ben Bernanke is predicting that the economy will make a modest recovery next year, but it will not be without growing pains in the process. “We have come a long way from the darkest period of the crisis, but we have some distance yet to go,” Bernanke said in a speech before the Economic ...
  15 hours ago

• Dollar dips on Bernanke comments, shares hover (Reuters)

  
  Blogger — Authority: 169
  Reuters – The dollar dipped on Tuesday after Federal Reserve Chairman Ben Bernanke dampened speculation of an early U.S. interest rate rise, while Asian shares steadied as investors took a breather after recent gains. Read the original:  (Reuters)"> (Reuters)">Dollar dips on Bernanke comments, ...
  16 hours ago

• How To Play The Torture Game

  
  Kentuckyanna true news — Authority: 156
  How To Play The Torture Game
  16 hours ago

• Alan Grayson Asks Bernanke for Answers in Latest Retrade of AIG Deal

  
  Gulag Blog — Authority: 171
  The ongoing tempest in a teapot about executive compensation at AIG appears to be a bit of Kabuki theater designed to divert attention from the real drama, which is the continuing sweetening of the deal to the troubled insurer. We will get to Congressman Alan Grayson’s pointed questions to Bernanke about the latest ...
  16 hours ago

• Alan Grayson Asks Bernanke for Answers in Latest Retrade of AIG Deal

  
  Fuck Bankers — Authority: 171
  The ongoing tempest in a teapot about executive compensation at AIG appears to be a bit of Kabuki theater designed to divert attention from the real drama, which is the continuing sweetening of the deal to the troubled insurer. We will get to Congressman Alan Grayson’s pointed questions to Bernanke about the latest ...
  16 hours ago

• Alan Grayson Asks Bernanke for Answers in Latest Retrade of AIG Deal

  
  naked capitalism — Authority: 729
  The ongoing tempest in a teapot about executive compensation at AIG appears to be a bit of Kabuki theater designed to divert attention from the real drama, which is the continuing sweetening of the deal to the troubled insurer. We will get to Congressman Alan Grayson’s pointed questions to Bernanke about the latest ...
  16 hours ago

• Congress Slams Ben Bernanke and Fed Reserve

  
  The Daily Reckoning Australia — Authority: 561
  "You are the definition of a moral hazard. Your Fed has become the creature from Jekyll Island" That was Senator Jim Bunnings comment to Ben Bernanke during the hearing into Bernankes renomination to the US Federal Reserve. Who would have thought there are members of Congress willing to say it as it is to Ben ...
  17 hours ago

• Uncle Ben (Bernanke) Says Our Economy is Going to Be Okay!

  
  Real Estate Opinion MAG - AgentGenius — Authority: 574
  Bernanke expresses confidence In a speech this morning to the Economic Club of Washington, D.C., Federal Reserve Chairman Ben Bernanke discussed with the crowd the “the most serious financial crisis and the worst recession since the Great Depression,” he ended his speech with a message of hope, noting that ...
  18 hours ago

• The Zeitgeist Movement

  
  Success Warrior: Alan B. Rowley II - Fitness Coach, Beachbody.com, P90X, Insanity — Authority: 128
  Im buried beneath homework tonight so no long-winded blog post from me this time.  So, instead Ill share a good video about how money is created and call it good. You might have to watch part 2 to get all the info on the creation of money but I think you can link to that when the video ends.
  23 hours ago

• Dollar retreats on Bernanke comments (AP)

  
  Relevant News — Authority: 179
  AP - The dollar retreated somewhat late Monday after hitting its highest level against a basket of major currencies since the first week of November, as comments from Federal Reserve Ben Bernanke squashed traders expectations of higher U.S. interest rates.
  1 day ago

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