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Federal Reserve

Former Federal Reserve Chairman Paul Volcker

Newsday's coverage

  • Spain concerns drag markets down

    Growing concerns over Spain's financial condition increasingly weighed on markets on Monday, after investors had initially bid up stocks on hopes that the Federal Reserve would provide more stimulus to the U.S. economy.Official data on Monday confirmed S   Read more »

  • Bernanke cautious on further stimulus

    WASHINGTON -- Federal Reserve Chairman Ben Bernanke left open the possibility Wednesday of further Fed action to stimulate the economy.Speaking at a news conference, Bernanke walked a fine rhetorical line: He signaled the Fed would act more aggressively   Read more »

  • NY Fed chief: Economy not out of woods

    SYRACUSE -- The disappointing performance of the U.S. labor market in March shows it is too early to conclude the economy is out of the woods, despite months of encouraging economic data, New York Federal Reserve Bank president William Dudley said on Thu   Read more »

  • Stocks hit by Fed's wait-and-see stancee

    Stocks around the world took a big hit Wednesday, a day after minutes to the last rate-setting meeting of the U.S. Federal Reserve indicated that a further monetary stimulus was unlikely.Though Fed policymakers voiced some concerns over U.S. economic gro   Read more »

  • Fed minutes show worries about hiring

    WASHINGTON -- Federal Reserve policymakers are worried that recent strong gains in hiring could fizzle if U.S. economic growth doesn't pick up.Minutes of the Fed's March 13 meeting show that members expressed those concerns before sticking with a plan to   Read more »

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About Federal Reserve

The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. Created in 1913 by the enactment of the Federal Reserve Act, it is a quasi-public (government entity with private components) banking system that comprises (1) the presidentially appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) twelve regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils. As of February 2006, Ben Bernanke serves as the Chairman of the Board of Governors of the Federal Reserve System. Donald Kohn is the current Vice Chairman of the Board of Governors of the Federal Reserve System.

from Wikipedia