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Article: What is Rae Rosen thinking? (interview with Federal Reserve Bank of New York's senior economist)(includes related article)(Interview)
- Article from:
- Business Credit
- Article date:
- March 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 National Association of Credit Management. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The Federal Reserve System is the central bank of the United States. It was founded by Congress in 1913 to provide the nation with a safer, more flexible and more stable monetary and financial system; over the years, its role in banking and the economy has expanded.
Today, the Federal Reserve's duties fall into four general areas:
1. Conducting the nation's monetary policy by influencing the money and credit conditions in the economy in pursuit of full employment and stable prices.
2. Supervising and regulating banking institutions to ensure the safety and soundness of the nation's banking and financial system and to protect the credit rights of ...