Economics Principles and Practices © 2012 Georgia

"The Fed and Monetary Policy"

Introduction
Your textbook has told you that Congress created the Federal Reserve System, or Fed, as America's central bank. The Fed has substantial regulatory and service responsibilities as well as control over monetary policy. In this activity you will learn more about the Federal Reserve and its role in our modern economy.

Destination Title: The Structure of the Federal Reserve System

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Directions
Start at the Structure of the Federal Reserve System Web page. Read the summary of information about the Federal Reserve System. Print a hard copy or read the article and answer the following questions.

1			Describe the Board of Governors of the Federal Reserve System.
2			Who are the current members of the Board of Governors?
3			Select the "Open Market" section of the Web site, found at the bottom of the Web page. Describe the decision making process of the Federal Open Market Committee (FOMC).
4			Select the "About The Fed" link at the bottom of the page. Find the "Publications and Education Resources" link, and then select the "Brochures" option. What topics are covered in the many consumer brochures that the Fed prepares?