The Federal Reserve System I Introduction Most people view the United States of America as one of the most stable and powerful economies in the world, but there was a time when this wasn�t reality. Around the1780�s England founded the first central bank. At this time in United States there was major chaos because there was no centralized bank. All the banks were independent and each bank created their own money. One of the reasons why the United States became so powerful is because of the strong central bank that Congress established in 1914 known as the Federal Reserve System (Feds). The Federal Reserve does not deal directly with the public, but rather with commercial banks. To better understand the Federal Reserve System it is important know the structure of it. There is a network of 12 Federal Reserve Banks scattered all over the country and 25 branches that make up the Federal Reserve System. They are all monitored by the Board of Governors located in Washington D.C. The Reserve Banks when put together make up the central bank. The twelve Federal Reserve banks are loc......

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