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Essay / Research Paper Abstract
This 5 page paper discusses what a monetary policy is and its goals for the nation's economy. This leads to a discussion of the Federal Reserve Bank of the United States, which is the organization that administers the country's monetary policy. The instruments the Federal Reserve Bank at its disposal to achieve the goals of the monetary policy are discussed. The difference between expansionary and contractionary policies is explained. Bibliography lists 9 sources.
Page Count:
5 pages (~225 words per page)
File: MM12_PGmonypo.rtf
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Unformatted sample text from the term paper:
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). It was founded in 1913 by Congress for the purpose of providing a safer,
more stable, more flexible monetary and financial system (Board of Governors of the Federal Reserve System, 2001). 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). There are twelve Federal Reserve Districts (Federal Reserve, nd). The 12 District banks are
the actual operating arm of the Federal Reserve System. Each performs numerous functions, such as distributing the nations currency and coin, supervising certain financial institutions, operating a nationwide payment system
and serving as a banker for commercial banks and the U.S. Treasury (Saxton, 1997). 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"
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