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Transcript of Federal Reserve
Images from Shutterstock.com Federal Reserve By: Ayda Yousef
Mady Ledesma How Many Employees are in the Agency? 18,386 Qualifications to Work Head Of The Agency Ben S. Bernanke Citizen or not citizen of the US but meets the requirements of the immigration Reform and Control act of 1986. The Federal Reserve plays an important role in the U.S. payments system. The twelve Federal Reserve Banks provide banking services to depository institutions and to the federal government. For depository institutions, they maintain accounts and provide various payment services, including collecting checks, electronically transferring funds, and distributing and receiving currency and coin. For the federal government, the Reserve Banks act as fiscal agents, paying Treasury checks; processing electronic payments; and issuing, transferring, and redeeming U.S. government securities. Who Appointed Him? The President Range of Salaries for Employees Depending on the grade: $25,900-$126,790 Primary Task or Function 2012 Wages Media Report Penalties From the period between December 2007 and June 2010, the Federal Reserve had secretly bailed out many of the world’s banks, corporations, and governments. The Federal Reserve likes to refer to these secret bailouts as an all-inclusive loan program, but virtually none of the money has been returned and it was loaned out at 0% interest.
Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious – the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.
To place $16 trillion into perspective, remember that GDP of the United States is only $14.12 trillion. The entire national debt of the United States government spanning its 200+ year history is “only” $14.5 trillion. Criticism During the 2010 midterm elections, the Tea Party movement made the Federal Reserve a major point of attack, which was picked up by Republican candidates across the country. Mike Lee (R) of Utah accused the reserve of trying to “monetize the debt” by printing money to buy government bonds, which the reserve denied. Unsuccessful Senate candidate Ken Buck (R) of Colorado said that Congress should be "shining a light on the Federal Reserve" because it is too cozy with private interests. Senator Rand Paul (R) of Kentucky, son of Congressman Ron Paul, has long attacked the Federal Reserve, arguing that it is hurting the economy by devaluing the dollar and that its monetary policies cause booms and busts. Picture Of Our Agency at Work Employers recently added 96,000 jobs in August