Federal Reserve Vocab Flashcard

Front

Why was the Federal Reserve created?

Back

To provide financial stability to the US by overseeing banks

Front

What are the main components of the Federal Reserve System?

Back

Board of Governors, Federal Open Market Committee, and 12 Regional Banks

Front

How many members are there in the Board of Governors?

Back

7

Front

Why is regulation important for the financial system?

Back

To ensure stability and protect consumers

Front

"The Fed" refers to the....

Back

Federal Reserve System/Bank

Front

What is the Federal Reserve System?

Back

the central banking system of the United States.

Front

The process of goods and services being produced and consumed is called

Back

Economy

Front

Money that you borrow from a bank:

Back

loan

Front

Who runs the FED?

Back

A board of governors

Front

A goal of the Federal Reserve System is to-

Back

Keep the economy stable