How does the Chairman become appointed?

The Federal Reserve and Monetary Policy

Question

The Federal Reserve System is also known as The Fed. Many people don’t realize the importance and power of the Federal Reserve. It was created to provide the nation with a safer, more flexible, and more stable monetary and financial system. The Fed plays an integral role in the United States’ government and economy.

Task #1 – Federal Reserve Video

1. Watch the video found at this link: The Federal Reserve In Plain English
2. As you watch complete the questions on the “Federal Reserve” document.

Task #2 – Create a PowerPoint, Google Slide, Prezi, etc. with the information from Task 2 & 3.

Chairman of the Federal Reserve
The Chairman of the Fed is the head of the central banking system of the United States and one of the most important decision-makers in American economic policies:
• How does the Chairman become appointed?
• What is his term of office?
• What are his responsibilities?
• Who is Jerome Powell? Why is he important?
• How important is the position of Chairman of the Federal Reserve?
Use the links below to help find your answers:
http://www.federalreserve.gov/pubs/frseries/frseri.htm
http://www.federalreserve.gov/pubs/frseries/frseri3.htm
http://www.federalreserve.gov/pubs/frseries/frseri4.htm

Task #3 –

Federal Open Markets Committee (FOMC)
The FOMC is charged with overseeing open market operations in the United States and is the principal tool of US national monetary policy. Use the links provided to find the information below:

• Who sits on the FOMC?
• What is the importance of the FOMC?
• How do they influence the monetary policy?
• What are the three tools for controlling the money supply?
• Which tool is used the most?
• What is the goal of the FOMC?
• How does the FOMC impact the economy?
Links for information:
http://www.federalreserve.gov/policy.htm
http://www.federalreserve.gov/fomc/
http://www.federalreserve.gov/pubs/frseries/frseri2.htm
http://www.econedlink.org/lessons/index.php?lid=1122&type=student

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