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Essay / Research Paper Abstract
A 4 page paper that begins by explaining what monetary policies are and how they are used to stabilize the economy. The writer then discusses what the Federal Reserve Bank is and its importance to the economy of the United States. The writer then reports the current economic state of the nation and the direction of recent monetary policies. Bibliography lists 7 sources.
Page Count:
4 pages (~225 words per page)
File: MM12_PGfedmp.rtf
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Unformatted sample text from the term paper:
the country (Financial Pipeline, 2002). It is important for any national government to take the steps necessary to influence economic activity so that it is commensurate with the political objectives
of that government (Financial Pipeline, 2002). The goal of the monetary policy is typically to achieve what is called macroeconomic stability, which is translated into low inflation, economic growth, low
unemployment, and a balance of the nations external payments (Financial Pipeline, 2002). The monetary policy is most often administered by a central bank that is appointed by the nations government
(Financial Pipeline, 2002). In America, the central is the Federal Reserve Bank of the United States (Financial Pipeline, 2002). The duties of the Federal Reserve are to: conduct the nations
monetary policy; supervise and regulate banking institutions and protect the credit rights of consumers; maintain the stability of the financial system; and to provide certain financial services to the U.S.
government, the public, financial institutions, and foreign official institutions (Board of Governors of the Federal Reserve System, 2001). The Federal Reserve Bank is essential to the economy of the
United States. It "monopolizes the issuance of paper money, serves as banker for both the government and commercial banks, and acts as lender of last resort. The latter, in turn,
calls for bank regulatory responsibilities" (Saxton, 1997). In times of economic crisis, the Federal Reserve is the lender of last resort and in this position, the Reserve can stabilize the
nations entire financial system (Saxton, 1997). The goals of the central bank are "sustainable growth, price stability and maintaining the integrity of the countrys financial system" (Smith, 2001, p. ITEM01276019).
The bank has a number of strategies it uses to stabilize the economy. These include discount rates or discount windows, the reserve department and the open market operations (Smith, 2001).
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