Part one of term paper
In exploring monetary policy in the United States, it is essential to define what is meant by monetary policy. Monetary policy can be defined as the policy decisions and actions by the Federal Reserve System (Fed) that affect the banking system and money supply. This may seem vague, but by decisions and actions, we mean the goals, tools, a ...

Part two of term paper
... goals and tools will be explored. Finally, I will look at monetary policy in the United States since 1970, to see the pattern that the Fed has used. FEDERAL RESERVE SYSTEM Founded in 1913 by an act of Congress, the Fed is the central bank of the United States. The Fed is a complicated institution with many responsibilities, including the regulation and supervision of over 10,000 commercial banks. The organization of the Fed is included in the Appendix to this paper. The Board of Governors is the ...