Functions of the federal reserve Management Term Paper (Term Paper Sample)

Functions of the Federal Reserve
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Functions of the Federal Reserve
The United States is a hugely religious country with its citizens subscribing to various Christian denominations. However, the country, which is one of the world's biggest economies, has often been run using policies that conflict with biblical teachings. Some of the policies that have often raised questions regarding their alignment to Christian teachings include the Obamacare Act and some economic policies that were developed in the backdrop of the 2008 economic depression. Nevertheless, the Federal Reserve's running and the operations present the most prominent case in which the U.S. has overstepped biblical teachings.
The Federal Reserve, founded in 1913, acts at the United States central bank and is the most important financial institution in the world. Federal Reserve is an independent institution, free from any political influence, be it the president or government (Kemmerer, 2015). The financial institution whose central government agency is in Washington D.C. consists of the other twelve branches in the form of regional banks situated across the country to serve specific geographical areas ("The Federal Reserve - Federal Reserve Bank Services", 2020). Although the bank is independent, it is subject to oversight from the Congress, which ensures that the institution's operations are in line with the policies and objectives set by the government framework. The Federal Reserve is responsible of various functions as outlined below.