Last weekend, we went to the Federal Reserve Bank of Boston for a lecture. It was founded in 1913-12-23. In New York, Philadelphia, Cleveland, Richmond, Atlanta, Chicago, Minneapolis, Dallas, San Francisco, Louis and Kansas also has the Federal Reserve Bank. It is the most powerful of banks in the world, it has the most gold and dollar in the world. Despite its initial aim is to establish stable and protect American banking system, but the present main responsibility is to control inflation. According to the federal reserve bank of America's constitution, its purpose is to help eliminate inflation and deflation, and actively participate in creating environment, promote high employment rate, price stability and national economic growth and rising consumption level."
Main task is to management and regulating banking by buying and selling American Treasury bonds to implement monetary policies to maintain a strong payment system, as the U.S. central bank, the fed from the U.S. congress to gain power. It is regarded as the independent central bank for its resolution can not obtain President or any of the top legislatures approved, it does not accept America's congress funding.
Main task is to management and regulating banking by buying and selling American Treasury bonds to implement monetary policies to maintain a strong payment system, as the U.S. central bank, the fed from the U.S. congress to gain power. It is regarded as the independent central bank for its resolution can not obtain President or any of the top legislatures approved, it does not accept America's congress funding.
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