Understanding the Federal Reserve and Monetary Policy (Real World Economics)

The Federal Reserve--the central bank of the U.S.--has long been shrouded in mystery and controversy. Its deliberations and actions have often occurred far from the public eye, yet its decisions have a profound impact on ordinary citizens. This book seeks to pull the curtain back and reveal exactly what the Fed is, what it does, how it gathers economic information and makes decisions, and who makes those decisions. This book introduces readers to the history, structure, and operations of the Fed and shows exactly how its decisions impact both the nation's economy and its citizens. As the Fed makes its deliberations and decision-making more and more transparent to the public, and as the nation continues its recovery from the recession, this book could not be more timely or needful. Cover 1 Title 2 Copyright 3 Contents 4 Introduction 5 Chapter One: The Establishment Of The Federal Reserve System 9 Chapter Two: What Does The Federal Reserve Do? 20 Chapter Three: The Fed In Action 33 Chapter Four: The Fed And The Great Recession 46 Chapter Five: Monetary Policy In a Modern Global Economy 53 Chapter Six: Looking To The Future 61 Glossary 68 For More Information 70 For Further Reading 73 Bibliography 74 Index 78 Presents a history of the Federal Reserve, discussing how the central bank came about, what its purpose is, and its role in the Great Recession of 2007-2010