Name: Why do we have the Fed? | CNBC Explains
Uploaded: 2019-01-07T10:28:25.000Z
Duration: 3 min 14 s
Description: Thousands of YouTube videos with English-Chinese subtitles! Now you can learn to understand native speakers, expand your vocabulary, and improve your pronunciation...

is the central bank of the United States.

the bank doesn't just hold on to my cash,

a bank might not have enough cash on hand.

in 1913 after a series of financial panics

established the Fed as a bank to other banks,

where it cleared checks and provided currency.

so you can plan your current and future budgets.

in 2008, the Fed lowered its key rate to zero.

The Fed is made up of the Board of Governors

which includes seven members called Governors

Fed Governors are appointed by the President

The Fed also includes 12 regional reserve banks

Each regional bank has its own Fed President.

Subtitles ListPlay Video

Why do we have the Fed? | CNBC Explains

ultimately

basically

crisis

determine