The Fed

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Federal Reserve chairman Alan Greenspan has incontrovertibly turned his formerly anonymous presidential appointment into the single most dominant financial position on earth. Whenever he prepares to speak, fiscal agents around the world hold their collective breaths--and then react emphatically to his words, often even before he finishes saying them.

The Federal Reserve, the central bank of the United States, was founded by Congress in 1913 to provide the nation with a safer, more flexible, and more stable monetary and financial system.  Today the Federal Reserve's duties fall into four general areas:

1. conducting the nation's monetary policy;
2. supervising and regulating banking institutions and protecting the credit rights of consumers;
3. maintaining the stability of the financial system; and
4. providing certain financial services to the U.S. government, the public, financial institutions, and foreign official institutions.
   

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11/28/00 How can I benefit from trading the markets following speeches by Greenspan?

4/27/00 Fed may give new meaning to "FED UP"