Who's Who in the U.S. Federal Reserve

Just a few months ago the U.S. Federal Reserve experienced a shutdown which
prevented normal operation of the government agency. The facts remained. Officicals would be responsible for implementing policy to stabilize the economy. So, who were the responsible agency officials and what titles do they hold?



Meet the Board:

Basically, the Board of Governors that make up the central bank of United States has consisted of 7 members, all of which were nominated by the President and confirmed by the Senate. Recently, 4 new board members joined the Board to serve a term which begins every two years.

The new Chairman of the Board, Janet Yellen was elected just this past year along with a new Vice Chair. Other members who joined include Daniell Tarullo, Jeremy Stein, and Jerome Powell.


12 Districts:

To better centralize and structure the country, the central bank is divided into 12 districts. Forming 12 regional Reserve banks, the districts has set monetary policy for entire regions to carry out banking functions.

The 12 districts represented are San Francisco, Dallas, Kansas City, St.Louis, Chicago, Minneapolis, Cleveland, Boston, New York, Philadelphia, Richmond, and Atlanta. These districts has controlled the money supply and the minting of the Dollar.

Issues:

With a newly elected Chair, is the Federal Reserve back to normal functioning. Should we expect a shutdown next year?






                                                                   SOURCES:
                     
                          -http://www.federalreserve.gov/aboutthefed/bios/board/default.htm
                          -http://www.federalreserveonline.org/

                                                                  KEYWORDS:

                                                      central bank; agency; district