North Texas webinar shares the century-long history of the Federal Reserve Bank system, discusses myths and misconceptions about the bank and sheds light on how the institution remains critical to the economic lives of people across the country. Presenter Stephen Clayton, Director of Community Engagement for the Federal Reserve Bank of Dallas and adjust professor of Economics at Austin College, leads this 50-minute presentation.

1. The Purposes and Functions of the Fed

2.  Financial panics are a part of United States history
 The Panic of 1907
 Jolted Wall Street
 Highlighted need for
financial reform
A History of Financial Panics

3. An act to provide for the establishment of Federal Reserve Banks, to
furnish an elastic currency, to afford means of rediscounting
commercial paper, to establish a more effective supervision of banking
in the United States, and for other purposes.
Preamble
Federal Reserve Act of 1913
The Federal Reserve Act

4.  Public versus Private
 National versus Regional
The Critical Balance

5. The Structure of the Fed

6. Structure of the Fed: The Board of Governors

7. Structure of the Fed: 12 Regional Banks

8. Structure of the Fed: 12 Regional Banks

9. Structure of the Fed: The FOMC

10. The FOMC and Monetary Policy

11.  Stable Prices
 Maximum Employment
Dual Mandate of Monetary Policy

12.  General rise in prices over time
Inflation
Prices
Fed Funds
Target
SpendingInflation

13. Employment
Employment
Fed Funds
Target
EmploymentSpending

14.  Reserve requirements
 Discount rate
Other Tools of Monetary Policy

15.  Monetary Policy
 Conducted by the Fed
 Three main tools
 Fiscal Policy
 Congress
 Taxation and spending
Monetary VS. Fiscal Policy

16.  Conducting Monetary Policy
 Supervision and Regulation
Purpose of the Fed

17.  Written Rules
 Written in response to legislation under the direction of Congress
Regulation

18.  The enforcement of regulations
Supervision

19. Existing Regulation of Banks and Their Holding
Companies

20.  Conducting Monetary Policy
 Supervision and Regulation
 Provide Financial Services
Purpose of the Fed

21.  Bankers’ Bank
 Cash Services
 Check Processing
 Electronic Payments
Providing Financial Services

22. Eleventh District Note

23. Eleventh District Note

24. Eleventh District Note

25. Composition of a Note

26. United States Government’s Bank
Providing Financial Services

27.  The Federal Reserve System is a three-part system.
 The Board of Governors
 The Reserve Banks
 The Federal Open Market Committee
 The Federal Reserve System has three main purposes.
 Monetary policy
 Supervision and regulation
 Financial services
Summary