WG/Strategies/Ideas/Monetary Policy - Revision history

Terra at 00:48, 13 March 2012

2012-03-13T00:48:21Z

← Older revision		Revision as of 20:48, 12 March 2012
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	'''Proposals'''		'''Proposals'''

	**[[Reform the Federal Reserve]]		*[[Reform the Federal Reserve]]

	** Audit the Federal Reserve. (This seems to be headed up by D(VT) Bernie Sanders<br>		*Audit the Federal Reserve. (This seems to be headed up by D(VT) Bernie Sanders<br>
	[http://sanders.senate.gov/newsroom/news/?id=de4c73fb-131c-4a25-b83e-4604eaefcebb]])<br>		[http://sanders.senate.gov/newsroom/news/?id=de4c73fb-131c-4a25-b83e-4604eaefcebb]])<br>
	** I'm in contact/working with a good friend of mine who studies economics. He has begun a series on deconstructing and reconstructing good monetary policy: <br>		*I'm in contact/working with a good friend of mine who studies economics. He has begun a series on deconstructing and reconstructing good monetary policy: <br>
	[[http://urbanserf.com/what-to-do-about-wages/]])		[[http://urbanserf.com/what-to-do-about-wages/]])

Terra at 00:47, 13 March 2012

2012-03-13T00:47:58Z

← Older revision		Revision as of 20:47, 12 March 2012
Line 38:		Line 38:
	'''Proposals'''		'''Proposals'''

	1. Audit the Federal Reserve. (This seems to be headed up by D(VT) Bernie Sanders<br>		**[[Reform the Federal Reserve]]

			** Audit the Federal Reserve. (This seems to be headed up by D(VT) Bernie Sanders<br>
	[http://sanders.senate.gov/newsroom/news/?id=de4c73fb-131c-4a25-b83e-4604eaefcebb]])<br>		[http://sanders.senate.gov/newsroom/news/?id=de4c73fb-131c-4a25-b83e-4604eaefcebb]])<br>
	2. I'm in contact/working with a good friend of mine who studies economics. He has begun a series on deconstructing and reconstructing good monetary policy: <br>		** I'm in contact/working with a good friend of mine who studies economics. He has begun a series on deconstructing and reconstructing good monetary policy: <br>
	[[http://urbanserf.com/what-to-do-about-wages/]])		[[http://urbanserf.com/what-to-do-about-wages/]])

OneKarma: moved Monetary Policy and Federal Reserve System to WG/Strategies/Ideas/Monetary Policy

2011-11-09T22:03:33Z

moved Monetary Policy and Federal Reserve System to WG/Strategies/Ideas/Monetary Policy

← Older revision	Revision as of 18:03, 9 November 2011
(No difference)

Terra at 05:24, 31 October 2011

2011-10-31T05:24:01Z

← Older revision		Revision as of 01:24, 31 October 2011
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	'''[http://en.wikipedia.org/wiki/Federal_Reserve_System FEDERAL RESERVE SYSTEM]'''		This page is for discussion and background about Reforming Monetary Policy and the Federal Reserve System.

			Back to main [[http://wiki.occupyboston.org/wiki/Strategies,_Proposals,_Positions Issues]] page.


			'''[http://en.wikipedia.org/wiki/Federal_Reserve_System FEDERAL RESERVE SYSTEM Basic Definition of the Federal Reserve System]'''

	'''Goals of Monetary Policy'''		'''Goals of Monetary Policy'''

Matt: 1 revision

2011-10-23T15:40:00Z

1 revision

← Older revision	Revision as of 11:40, 23 October 2011
(No difference)

Matt at 01:01, 19 October 2011

2011-10-19T01:01:00Z

New page

'''[http://en.wikipedia.org/wiki/Federal_Reserve_System FEDERAL RESERVE SYSTEM]'''

'''Goals of Monetary Policy'''

The goals of monetary policy are spelled out in the Federal Reserve Act, which specifies that the Board of Governors and the Federal Open Market Committee should seek “to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates.”

Today, the Federal Reserve’s duties fall into four general areas:

conducting the nation’s monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates

supervising and regulating banking institutions to ensure the safety and soundness of the nation’s banking and financial system and to protect the credit rights of consumers

maintaining the stability of the financial system and containing systemic risk that may arise in financial markets

providing financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation’s payments system

[http://www.federalreserve.gov/pf/pf.htm]]

'''How Monetary Policy Affects the Economy'''

The initial link in the chain between monetary policy and the economy is the market for balances held at the Federal Reserve Banks. Depository institutions have accounts at their Reserve Banks, and they actively trade balances held in these accounts in the federal funds market at an interest rate known as the federal funds rate. The Federal Reserve exercises considerable control over the federal funds rate through its inf luence over the supply of and demand for balances at the Reserve Banks.

The FOMC sets the federal funds rate at a level it believes will foster financial and monetary conditions consistent with achieving its monetary policy objectives, and it adjusts that target in line with evolving economic developments. A change in the federal funds rate, or even a change in expectations about the future level of the federal funds rate, can set off a chain of events that will affect other short-term interest rates, longer-term interest rates, the foreign exchange value of the dollar, and stock prices. In turn, changes in these variables will affect households’ and businesses’ spending decisions, thereby affecting growth in aggregate demand and the economy.

[[http://www.federalreserve.gov/pf/pf.htm]]

'''Issues'''

1. Transparency and Accountability

The Board of Governors of the Federal Reserve System, the Federal Reserve banks, and the individual member banks undergo regular audits by the GAO and an outside auditor. GAO audits are limited and do not cover "most of the Fed’s monetary policy actions or decisions, including discount window lending (direct loans to financial institutions), open-market operations and any other transactions made under the direction of the Federal Open Market Committee" ...[nor may the GAO audit] "dealings with foreign governments and other central banks." Various statutory changes, including the [[http://en.wikipedia.org/wiki/Federal_Reserve_Transparency_Act Federal Reserve Transparency Act], have been proposed to broaden the scope of the audits. [http://en.wikipedia.org/wiki/Federal_Reserve_System http://en.wikipedia.org/wiki/Federal_Reserve_System]

'''Proposals'''

1. Audit the Federal Reserve. (This seems to be headed up by D(VT) Bernie Sanders<br>
[http://sanders.senate.gov/newsroom/news/?id=de4c73fb-131c-4a25-b83e-4604eaefcebb]])<br>
2. I'm in contact/working with a good friend of mine who studies economics. He has begun a series on deconstructing and reconstructing good monetary policy: <br>
[[http://urbanserf.com/what-to-do-about-wages/]])

'''Other'''

[[Ron Paul on Occupy Wall Street Ron Paul Defending Occupy Wall Street] - Republican National Debate 10/18/11

<br>
- An example of a [[Federal Reserve Statement|statement]] regarding the Federal Reserve.
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''Based on: [http://occupyboston.wikispaces.com/Monetary+Policy+and+Federal+Reserve+System Monetary Policy and Federal Reserve System at wikispaces]''