President Of The Federal Reserve Board Essay

President Of The Federal Reserve Board Essay

Length: 876 words (2.5 double-spaced pages)

Rating: Better Essays

Open Document

Essay Preview

Contrary to popular belief that presidents are to blame for the economy, the facts say differently. When it comes to the economy, presidents are at the mercy of the business cycle. Many times, the state of the economy depends on what happened in the previous administration. In economic terms, the most powerful person in the United States is the Chairman of the Federal Reserve Board. Actually, the only thing the president can really do is nominate the members of the Federal Reserve Board. There are tools to influence the business cycle, but the President has almost no control over them.

I am currently under my parents’ family health care plan which cost $308 per month after my mom’s employer pays their part. My sister’s company pays 100% for her health care plan. If Americans cannot afford to pay for their own health care, should the government pick up the tab? Who should take the lead, state or national? The answers to the questions will redirect the course of American federalism in the years to come. Health care is a humanitarian right, but not a basic right that is guaranteed.

Many Americans think that the Bush-era NCLB has actually worsened the quality of education. Although NCLB started a national conversation about student achievement, unintended consequences of NCLB have reinforced the wrong behaviors in attempting to strengthen public education. NCLB has created incentives for states to lower their standards; emphasized punishing failure over rewarding success; focused on absolute scores, rather than recognizing growth and progress; and prescribed a pass-fail, one-size-fits-all series of interventions for schools that miss their goals. Educators and the public have seen the uselessness of all the testing that ha...

... middle of paper ...

...ustees’ report shows, but it will then face a significant funding shortfall that the President and Congress should address reasonably soon. A mix of tax increases and modest benefit reductions could put the program on a sound financial footing indefinitely. By enacting these changes, policymakers could reassure future generations that they, too, will be able to count on this successful program.

5) With the national debt reaching around 17 trillion dollars, it’s a miracle that we are still around because we spiraling downward at such a quick rate. Since Obama took office. Our debt has increased 70%, from 10.5 trillion to nearly 18 trillion. I am sick and tired of the wasted government spending with no regard to the future of our nation or its children. I am no expert, but if we are to preserve the nation for future generations, we need a balanced budget amendment.

Need Writing Help?

Get feedback on grammar, clarity, concision and logic instantly.

Check your paper »

Essay about The Federal Reserve Act By President Woodrow Wilson

- The Federal Reserve, commonly known as “The Fed” was established in 1913 by congress and signed into law as the “Federal Reserve Act” by President Woodrow Wilson on December 23, 1913. It was created to regulate the banking system in the United States. The U.S. Government affects the economy through fiscal policy (government taxing and spending). The Federal Reserve constructs monetary policy to control interest rates, reserves, and to affect how the banking system relates to the economy overall....   [tags: Monetary policy, Federal Reserve System]

Better Essays
854 words (2.4 pages)

The Federal Reserve Act Law Essays

- The Federal Reserve has kept the United States from going under and having bank runs like the ones in 1930 during the great depression. During the 1930 over 9,000 banks failed causing great damage to the United States economy. The 1930 we hard times that the U.S never want to experience again. President Woodrow Wilson signed the act of the Federal Reserve 1913 which helped during the great depression but not a much as it could. The Federal Reserve has changed since then and does far more than before....   [tags: Monetary policy, Federal Reserve System]

Better Essays
2273 words (6.5 pages)

The Federal Reserve System Works Essays

- The Federal Reserve System In order for people to fully understand how the Federal Reserve System works, they first need to understand that before the creation of the Federal Reserve, when banks were first made they were used by the public just as people use them today. For example: deposits were made into saving and checking accounts, loans were taken out to mortgage a business or a new home. In addition, banks issued bank notes which are the same as paper money today. These bank notes were valued as money since they were backed up by a promise that they would be exchanged for either gold or silver at any time....   [tags: Federal Reserve System, Monetary policy]

Better Essays
797 words (2.3 pages)

Essay on The United States And The Federal Reserve System

- The Bible clearly explains the role of government in society and the framers of our nation built America on Biblical principles. Since economics is the science that deals with production, distribution, and consumption of goods and services, Christian economics entails how men use God-given resources, ideas, and energy to meet their human needs and to glorify the Lord. Christianity produces internal liberty in man, which is the foundation for a Christian economy. The internal change of heart that Christ brings produces Christian character and self-government which is necessary for an economy to be prosperous....   [tags: Federal Reserve System, Central bank]

Better Essays
1015 words (2.9 pages)

Essay about Central Bank And The Federal Reserve System

- The Fed is the nation 's central bank which regulates many aspects of the U.S. financial system. The Federal Reserve System consists of member banks, reserve banks, and a board of governors. The board of governors consists of seven members appointed by the U.S. President. "It alone determines the reserve requirements, within statutory limits, for depository institutions." The board also helps other Fed departments handle the selling and purchasing of government securities. The reserve banks are twelve districts which handle all reserve deposits and set the discount rate for commercial banks within their respective regions....   [tags: Monetary policy, Federal Reserve System]

Better Essays
775 words (2.2 pages)

Essay on The Federal Reserve System Of The United States

- In different parts of the world, every day of the year different types of transactions are carried out, using as an intermediary which is the engine that moves the world, the money. Every country has its own currency, which has some features or specific restrictions such as where and how it can be used and has the same value. Both in Puerto Rico and the United States used what we know as the dollar also equivalent to 100 cents. There are two types of agencies of the Government of the United States who are responsible or liable for the proper functioning of the currency flow between individuals, businesses and state; The Federal Reserve and the Treasury Department....   [tags: Federal Reserve System, Monetary policy]

Better Essays
1049 words (3 pages)

The Federal Reserve Essay

- To understand the purpose and role of the Federal Reserve System, we must first know the origin of the central bank of the United States. On December 23, 1913 President Woodrow Wilson signed The Federal Reserve Act. The primary purpose of the act was to make sure that a supply of money and credit would be available in the United States to meet banking demands by establishing Federal Reserve Banks which would hold the responsibility of supporting the credit structure during periods of financial strain....   [tags: Economics]

Better Essays
2066 words (5.9 pages)

Federal Reserve Act Overview Essay

- FEDERAL RESERVE ACT OVERVIEW The Federal Reserve Act States that, The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy’s long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates. (Federal Government, 1977) After several years of financial turmoil and panics, particularly the panic of 1907, the U.S....   [tags: Economics]

Better Essays
1222 words (3.5 pages)

Essay on The Federal Reserve

- The Federal Reserve President Clinton appointed Alan Greenspan, a well-known chairman of the Federal Reserve Board, to his fourth term as the chairman of the nation's central bank. Alan Greenspan accepted the chance to lead the Federal Reserve Board for another four-year term beginning June of 2000. President Clinton praised Greenspan for starting a "New Era", an era with high technologies and productivity to advance. He is expected to push the level of prosperity to a higher stage. Alan Greenspan is known as a man of his profession to realize the power and impact of new technologies for the 21st century....   [tags: Essays Papers]

Free Essays
466 words (1.3 pages)

Essay about The Federal Reserve System

- The Federal Reserve System The Federal Reserve System was founded by Congress in 1913 to be the central bank of the United States. The Federal Reserve System was founded to be a safer, more flexible, and more stable monetary financial system. Over the years, the role of the Federal Reserve Board and its influence on banking and the economy has increased. Today, the Federal Reserve System's duties fall into four general categories. Firstly, the FED conducts the nation's monetary policy. The FED controls the monetary policy by influencing credit conditions in the economy....   [tags: Papers]

Better Essays
1079 words (3.1 pages)