Federal Reserve System

Federal Reserve System

Written by:
Introbooks Team
Narrated by:
Andrea Giordani
A free trial credit cannot be used on this title

Unabridged Audiobook

Release Date
July 2019
0 hours 40 minutes
Prior to the establishment of the Federal Reserve System (FRS), the U.S. economy faced frequent panics, bank failures, and credit scarcity due to unstable banking and financial systems prevailing in the market. Additionally, due to the rapid industrialization the decentralized banking system became more unstable. Specifically, the financial and the economy panic encountered during 1907 forced the congress to establish a centralized bank “The Federal Reserve System”. Congress passed the Reserve Act in the year 1913 to establish the FRS. The FRS is entitled to provide a safe, secure, and stable financial growth for the U.S.

As the FRS was created, the structure and functionalities of the central bank has evolved in phases. In the year 1935, the Fed’s monetary policy making body called the Federal Open Market Committee (FOMC) was formed to address the financial depression of the country. Further, the monetary policy was revised from time-to-time to address the financial panics and the bank runs faced by the public. The monetary policy addressed the surging inflation faced by passing the Federal Reserve Reform Act of 1977. Later, the monetary policy was entitled to increase the employment rate by passing the Employment and Balanced Growth act in the year 1978, and it was decided that the FRS produced the finance report to the congress twice a year. 

Following the severe financial crisis in the year 2007-2008, the U.S. congress passed the Wall Street Reform and Consumer Protection Act of 2010 to increase the transparency of the working of the FRS, extend the regulatory responsibilities, and increase the safety and security of the financial aspects by providing a new Consumer Financial Protection Bureau.

As the working of the FRS directly impacts the financial and economical condition of the country and the individuals, it becomes very important to understand the structure, functionalities, and working of the FRS.
Federal Reserve System
This title is due for release on July 5, 2019.

Enter your email below to be notified as soon as it is available!

By clicking "Notify Me" you consent to receiving electronic marketing communications from Audiobooks.com. You will be able to unsubscribe at any time.

Already a member? Log In to add this title to your wishlist.
Federal Reserve System
This title is due for release on July 5, 2019
We'll send you an email as soon as it is available!

Already a member?
Log in to add this title in your wishlist
Federal Reserve System
Please Log in and add this title to your wishlist.
Federal Reserve System

We will send you an email as soon as this title is available.

1 book added to cart
View Cart