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Essay / Research Paper Abstract
This 5 page paper contains three parts, each with individual bibliographies. Within the three parts are five questions. Issues addressed include the federal reserve, junk bonds, the federal deficit, and currency issues. Bibliography lists 6 sources.
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5 pages (~225 words per page)
File: RT13_SA546Fed.rtf
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quasi-governmental body and not a direct part of the federal government? The Federal Reserve is well known to people. They watch and wait to see if the
interest rates will be tweaked at each months meeting. Greenspan can often predict trends and for example, in 2004, claimed that fund rates would return to a neutral level ("Greenspan
warns," 2004). Unlike other nations, and particularly in Europe, the United States is vast and it also is made up of individual states. States have different laws and in many
cases, state and federal law are used in combination. Additionally, there are regional flavors. The South for example has a particular cooking style, accent and certain habits that had not
been acquired by the Northerners. In other words, the United States has a great land mass and there are regional variations. It is therefore not surprising that the Federal Reserve
contains regional offices. When the Federal Reserve Board commenced in 1913 it set up 12 branches, unlike European countries for example, so that each can service a particular area. It
is an idea that makes sense as the United States is so large. It seems that it was set up not as a direct part of the federal government because
it would oversee the government and also regulate private interests, thus rendering it a key component of the nations financial system. Another point is that the Fed does charge member
banks interest (Laffer, 2001). This is quite helpful to the Board. However, the banks report to the Board of Governors which is the national part of the system. In many
ways, like the system of checks and balances, or the way that federal and state governance is divided, this system creates a situation where there is balance. It is in
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