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[By Staff Reporters]
Uncovering The FED
In the early 20th century, a financial crisis led panicked citizens to withdraw all their money at once, damaging banks. By 1913, Congress responded with the Federal Reserve Act, creating 12 regional banks acting as a federal bank to deal in local and global affairs with both private banks and the federal government.
Balancing v. Manipulation
Some say the Fed was meant to create a balanced economy, while others argue its purpose was to inorganically manipulate free enterprise, rescuing banks that we’d be better off without.
Assessment
Is the Fed still doing its job today? What secrets are being kept from us and how are the Fed’s actions impacting our economy?
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Conclusion
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Filed under: Book Reviews, Financial Planning, Funding Basics, Glossary Terms, iMBA, Inc. | Tagged: Ben Bernanke, discopunt rate, federal reserve funds, FOMC, The Fed, The Federal Reserve Act, velocity of money | 3 Comments »
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