14 years.

Congress wrote the act in 1913.

- raise interest rates - raise reserve requirements - sell securities

The minimum interest rate set by the Federal Reserve for lending to other banks.

The seven governors from the Board and 5/12 presidents of the Reserve Banks.

The process of which the Federal Open Markets Committee buys and sells securities to set the money supply.

- Fostering safe sound and competitive practices in the nations banking system.- Protecting consumer's financial transactions. - regulating the bank.

Increase: reduced the volume of deposits that can be supported by a given level of resources Decrease: leaves depositories with excess reserves which can induce the expansion of bank credit.

- lower interests rate - lower reserve requirements - buy securities

They are appointed by the president and confirmed by the U.S. Senate.

Increase: will make it more expensive for banks to borrow and decrease the money supply Decrease: will make it cheaper for commercial banks to borrow money and increase money supply.

To write regulations that make commercial banks financially in check and strengthen the nation's economy.

Buying bonds>>> to banks>>> loan out money>>> back to consumers

Increase: buy securities Decrease: sell securities