The document outlines the structure and policies of the United States Central Bank, known as the Federal Reserve System. The Federal Reserve System has a board of governors led by Janet Yellen as Chair. It is made up of 12 Federal Reserve Districts. Key committees in the system include the Federal Open Market Committee, charged with open market operations, and the Federal Advisory Council which offers advice. The system also includes non-bank public entities that use commercial banking. It implements monetary policies through tools like interest rates, lending facilities, and open market operations to influence employment, inflation and growth.

1. Central Bank of United States
POLICIES

2. Board of Governors
Janet Yellen
(Chair)
Stanley Fischer
(vice-chair)
Daniel Tarullo
Lael Brainard

3. FederalReserve Bank
Of Chicago
Federal Reserve Bank
Of Cleveland
Federal Reserve Bank
Of Philadelphia
Federal Reserve Bank
Of Richmond
Federal Reserve
Districts

4. Pyramid of Federal Reserve System
Federal Open Market Committee:
Standing committee of FRS,specially charged with
open market operations in MONETARY POLICY.
Federal Advisory Council:
It is charged only with offering advice to the
Federal Reserve Board of Governors.
.
Non Bank Public:
contains consumers, businesses, and government
agencies that make use of commercial banking
services,

5. Working of Federal Reserve System
SOURCE:-http://www.truthcontrol.com/pictures/how-federal-reserve-works-infographic

6. Monetary Policy of Federal Reserve

7. Monetary Policies
 Discounts rates:-existing rates i.e. no change.
 Term Assets backed securities Loan Facility.
 Term Deposit with full allotment.
 Convert Bilateral liquidity swap arrangement to standing arrangement.
 Projections of appropriate Target Federal Funds rate.
 Open international banking Facilities.
 Reserve Repurchase agreement.
 Liquidity & Lending facilities.
 Federal Funds Rate(see chart)
 Primary Dealer Credit facility.
 Interbank Lending.

8. Current Position
Dollar is getting more stronger
Reduction in Emoployment Rate
SOURCE:- http://www.economist.com/news/leaders/21596522-bank-england-doing-better-job-
explaining-its-intentions-federal

9. http://www.amosweb.com/cgi-bin/awb_nav.pl?s=wpd&c=dsp&k=Federal+Reserve+pyramid
Bibliography
Wheelock, David C. The Strategy and Consistency of Federal Reserve Monetary Policy,
1924–1933.Cambridge, U.K.; New York: Cambridge University Press, 1991.
http://www.truthcontrol.com/pictures/how-federal-reserve-works-infographic
http://www.federalreserve.gov/monetarypolicy/bst.htm
http://www.economist.com/news/leaders/21596522-bank-england-doing-better-
job-explaining-its-intentions-federal

10. Surbhi Jindal
PGDM-1
1416