The Federal Reserve David Hernandez Banking and Investing January 9, 2012
II. The Federal Reserve, which is also known as Bankers Bank and Central Bank of the United States, was created by the Executive Branch on December 23, 1913. It was created to fix the organization and distribution of money throughout the United States.
Board of Governers- 7 members of BOG, They are nominated by the president and confirmed the senate
12 District Banks
Federal Market Open Committee- 7 members, nominated by the president
25 Other Branches
Member FDIC Banks
â€œThe Federal Reserve conducts monetary policy by controlling money distribution. These actions help keep our economy stable by monitoring money and controlling the distribution.â€?