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Monetary Policy Report To The Congress
The Monetary Policy Report to the Congress is a semi-annual report prepared by the Board of Governors of the Federal Reserve and presented to the Congress of the United States. The Chairman of the Board of Governors is called on to offer oral testimony about the report to the Committee on Banking, Housing, and Urban Affairs of the Senate and the Committee on Financial Services to the House of Representatives. Monetary Policy Reports are mandated by the Humphrey–Hawkins Full Employment Act of 1978, which required the Federal Reserve to formally report on its activities to Congress. The Monetary Policy Reports were previously referred to as Humphrey-Hawkins reports. The Monetary Policy Report is delivered twice a year, in February and July, and reports the basic state of the United States economy The United States is a highly developed mixed-market economy and has the world's largest nominal GDP and net wealth. It has the second-largest by purchasing power parity (PPP) ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Board Of Governors Of The Federal Reserve
The Board of Governors of the Federal Reserve System, commonly known as the Federal Reserve Board, is the main governing body of the Federal Reserve System. It is charged with overseeing the Federal Reserve Banks and with helping implement the monetary policy of the United States. Governors are appointed by the president of the United States and confirmed by the Senate for staggered 14-year terms.See Statutory description By law, the appointments must yield a "fair representation of the financial, agricultural, industrial, and commercial interests and geographical divisions of the country". As stipulated in the Banking Act of 1935, the Chair and Vice Chair of the Board are two of seven members of the Board of Governors who are appointed by the President from among the sitting governors of the Federal Reserve Banks. The terms of the seven members of the Board span multiple presidential and congressional terms. Once a member of the Board of Governors is appointed by the presid ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Congress Of The United States
The United States Congress is the legislature of the federal government of the United States. It is Bicameralism, bicameral, composed of a lower body, the United States House of Representatives, House of Representatives, and an upper body, the United States Senate, Senate. It meets in the U.S. Capitol in Washington, D.C. Senators and representatives are chosen through direct election, though vacancies in the Senate may be filled by a Governor (United States), governor's appointment. Congress has 535 voting members: 100 senators and 435 representatives. The U.S. vice president has a vote in the Senate only when senators are evenly divided. The House of Representatives has six Non-voting members of the United States House of Representatives, non-voting members. The sitting of a Congress is for a two-year term, at present, beginning every other January. Elections in the United States, Elections are held every even-numbered year on Election Day (United States), Election Day. Th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chairman Of The Federal Reserve Board
The chair of the Board of Governors of the Federal Reserve System is the head of the Federal Reserve, and is the active executive officer of the Board of Governors of the Federal Reserve System. The chair shall preside at the meetings of the Board. The chair serves a four-year term after being nominated by the President of the United States and confirmed by the United States Senate; the officeholder serves concurrently as member of the Board of Governors. The chair may serve multiple terms, pending a new nomination and confirmation at the end of each term, with William McChesney Martin as the longest serving chair from 1951 to 1970 and Alan Greenspan as a close second. The chairs cannot be dismissed by the president before the end of their term. The current chair is Jerome Powell, who was sworn in on February 5, 2018. He was nominated to the position by President Donald Trump on November 2, 2017, and later confirmed by the Senate. He was subsequently nominated to a second term b ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Senate
The United States Senate is the upper chamber of the United States Congress, with the House of Representatives being the lower chamber. Together they compose the national bicameral legislature of the United States. The composition and powers of the Senate are established by Article One of the United States Constitution. The Senate is composed of senators, each of whom represents a single state in its entirety. Each of the 50 states is equally represented by two senators who serve staggered terms of six years, for a total of 100 senators. The vice president of the United States serves as presiding officer and president of the Senate by virtue of that office, despite not being a senator, and has a vote only if the Senate is equally divided. In the vice president's absence, the president pro tempore, who is traditionally the senior member of the party holding a majority of seats, presides over the Senate. As the upper chamber of Congress, the Senate has several powers o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States House Of Representatives
The United States House of Representatives, often referred to as the House of Representatives, the U.S. House, or simply the House, is the Lower house, lower chamber of the United States Congress, with the United States Senate, Senate being the Upper house, upper chamber. Together they comprise the national Bicameralism, bicameral legislature of the United States. The House's composition was established by Article One of the United States Constitution. The House is composed of representatives who, pursuant to the Uniform Congressional District Act, sit in single member List of United States congressional districts, congressional districts allocated to each U.S. state, state on a basis of population as measured by the United States Census, with each district having one representative, provided that each state is entitled to at least one. Since its inception in 1789, all representatives have been directly elected, although universal suffrage did not come to effect until after ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Humphrey–Hawkins Full Employment Act
The Full Employment and Balanced Growth Act (known informally as the Humphrey–Hawkins Full Employment Act) is an act of legislation by the United States government. Impetus and strategy Unemployment and inflation levels began to rise in the early 1970s, reviving fears of an economic recession. In the past, the country's economic policy had been defined by the Employment Act of 1946, which encouraged the federal government to pursue "maximum employment, production, and purchasing power" by cooperation with private enterprise. Some Representatives, dissatisfied with the vague wording of this act, sought to create an amendment that would strengthen and clarify the country's economic policy. The Act's sponsors embraced a form of Keynesian economics, advocating public intervention to increase economic demand and to secure full employment.Cate, T., ''An Encyclopedia of Keynesian Economics'', 2nd ed. (Cheltenham: Edward Elgar Publishing, 2013)p. 182 Economists in the Carter administ ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Economy Of The United States
The United States is a highly developed mixed-market economy and has the world's largest nominal GDP and net wealth. It has the second-largest by purchasing power parity (PPP) behind China. It has the world's seventh-highest per capita GDP (nominal) and the eighth-highest per capita GDP (PPP) as of 2022. US share of Global economy is 15.78% in PPP terms in 2022. The United States has the most technologically powerful and innovative economy in the world. Its firms are at or near the forefront in technological advances, especially in artificial intelligence, computers, pharmaceuticals, and medical, aerospace, and military equipment. The U.S. dollar is the currency of record most used in international transactions and is the world's foremost reserve currency, backed by the nation’s massive economy, stable government, extensive natural resources, highly advanced military, its role as the reference standard for the petrodollar system, and its linked eurodollar and la ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Federal Reserve System
The Federal Reserve System (often shortened to the Federal Reserve, or simply the Fed) is the central banking system of the United States of America. It was created on December 23, 1913, with the enactment of the Federal Reserve Act, after a series of financial panics (particularly the panic of 1907) led to the desire for central control of the monetary system in order to alleviate financial crises. Over the years, events such as the Great Depression in the 1930s and the Great Recession during the 2000s have led to the expansion of the roles and responsibilities of the Federal Reserve System. U.S. Congress, Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates. The first two objectives are sometimes referred to as the Federal Reserve's dual mandate. Its duties have expanded over the years, and currently also include supervising and bank regulation, regulating ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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