Soard of Governors of the Federal Reserve System Form

Instructions and help about Soard Of Governors Of The Federal Reserve System

[MUSIC PLAYING] Hi, I'm Penny, your personal tour guide to the Federal Reserve. I'm here to introduce you to one of the most complex but effective institutions in the United States. But don't worry, I'll explain it all in plain English. Here is a road map of where we're going. Together, we'll walk through the Federal Reserve System, literally. And along the way, I'll show you just what goes on around here and why it's important. By the end of this tour you, too, will be able to explain the Federal Reserve in plain English. As you can see, there's a lot going on around the Fed, but keep in mind that the whole is really just the sum of the parts. Basically, the Federal Reserve is made up of three parts: the Board of Governors, that's the building in the middle; the reserve banks, those are the 12 other buildings; and the Federal Open Market Committee. The complex design of these three parts is actually tied to how the Fed was created in the first place. To understand this structure bette