what is the role of the chairman of the board for the federal reserve bank?
109835
the federal reserve bank sets monetary policy.  the most important of these policies, the interbank federal interest rate, controls how much it costs for regular banks to borrow money.  this in turn controls how much money there is floating around in the economy, which affects inflation and economic growth.\n\nhere is more information about how the chairman is selected and the responsibilities of the federal reserve board:\nhttp://www.federalreserve.gov/pubs/frseries/frseri.htm\n\nhere is a good site to learn more about how the fed works and why it exists:\nhttp://www.federalreserveeducation.org/fed101/structure/
230341
He was a banker. Hope this helps.
238400
The Honorable Alan C. Greenspan, PhD, KBE (b. March 6, 1926) is an American economist and former Chairman of the Board of Governors of the Federal Reserve of the United States. Following his retirement as Fed chairman, he accepted an honorary (unpaid) position at the U.K. Treasury.\nAlso\nJolly Green Giant dwarfs all other North Dakota / Minnesota highway leviathans. At 55-feet tall, he stands head-and-husk above a rival 2D 2-dimensional green giant in nearby Le Sueur. Blue Earth is also the Birthplace of the Ice Cream Sandwich,\nGL
934852
I know that it isn't "several" but the biggest is: why would they?  It isn't part of the function and purpose of the federal reserve.  They have plenty to do with their primary functions of monetary control through the banking industry.  \n\nPicture two stallions discussing the relative beauties of the fillies that prance by at some riding stable.  A cat walks by, why should they be interested in the cat?  It is the same with the federal reserve, stocks are not their thing.
1145664
market forces do play a part in the rates set by the fed.  the main concern of the fed is to balance inflation and growth of the economy.  If growth is too high and inflation rates spike, then higher rates cool things down.  It's a fine balancing act.
986598
Well, the Constitution gives Congress the direct authority to mint money, and a national bank was determined as the most effective way to handle the distribution.\n\nIt's not an issue of whether there is a national bank. It's a question of who can authorize loans like that.....
798473
Their Mission Statement says:\n\n.... the Federal Reserve’s duties fall into four general areas:\n\n- 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 \n\n- 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 \n\n- maintaining the stability of the financial system and containing systemic risk that may arise in financial markets \n\n- 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 \n\n....\n\nI guess you'll have to pick three
110301
Fed Reserve, but really the major corporations.  They control everything with their bucks.
547853
Nope!\n\nUSA has a free economy.  There is a Federal Reserve Board with 13 presidents and a Chairman (the chairman used to be Alan Greenspan.  Now it is Bernackey).  It is their job to manipulate the money supply.  They raise and lower interest rates.  This is called Monetary policy. The president of the U.S. and Congress raise and lower taxes and this is called Fiscal policy. Together Monetary policy and fiscal policy get the economy moving faster or slower.  If taxes are high and interest rates are high, not as many people can afford to buy houses or borrow money and this slows economy down.  Bernacky would in this case, cut interest rates and then a house payment would be $500 not $575 for example.  More people could afford smaller house payment so they would buy house causing demand for more houses and demand for more wood and concrete...\n\nThere is not enough Gold in the world to back up all the dollars and euroes.  NYC's Trash Department has a budget bigger than some small countries.  USA's economy is HUGE.  China has bought billions of our dollars when they buy our U.S. Treasury bonds.  When Bernacky raises interest rates, he is also raising the amount of interest USA pays on U.S. Treasury bills.
1187027
4. The Fed...they control the monetary policy of the country, or how much money is in the market.  By controlling interest rates and how much money is printed at any given time, this has a great affect on how much people pay for loans and the value of the dollar.\n\n1. The President not only implements the budget and policy, but he also gets to appoint governors of the Fed Board and also other economic advisors.  Even if Congress passed a budget, he or she would not have to spend the money.\n\n2 & 3.  Congress passes the budget and has the ultimate power of the purse.  While government spending is a fraction of the GDP, it is still a large share and the amount of money people pay in taxes is less money for the market.  Also, a large national debt could crowd out private borrowing, in turn jacking up interest rates.  We'll just put the Senate in this answer since they are part of Congress.\n\n5.  The media has no control over the economy, but they have the ear of the people.  By spinning or telling stories of how well or poorly the economy is doing, this could in turn influence people's spending patterns.\n\n6. Foreign powers have very little to do with the economy, as the GDP is measured by the domestic production levels.  One thing foreign powers can do is regulate the cost of goods if we import something important from a country, but that effect is limited and often not as shocking as a domestic price jacking.
519789
it's the feds way of compensating for some economic thinga ma gig...\n\nIt is the job of the Federal Reserve to keep the economy going at a sustainable healthy rate and when they believe it could be moving too fast, then their tool that they use is to raise interest rates,"
1153868
The point of fault, which came under scrutiny too late, is actually a big one. The general functions are researched and performed very thoroughly, but I think there is general agreement among high-level economists and experts that the board which is to review the Regulation T limit, very much as the much publicized interest rate meeting, severely failed in their responsibility in the 90s. If they had tightened the actual fund requirements for margin accounts during the early 90s' (they never changed it, incidently) we would have had a much more stable economy over the past 20 years, and a much stronger one today.
1100840
I doubt it's possible to be completely insulated but the 14 year terms go a long way to try and make things fair.  It's certainly better than Cabinet positions where the new President gets to select a favorite.  Then, the Fed would be swayed by the President to do certain things in order to get selected.
722270
The sitting President of the United States nominates someoone and then he/she goes before a committee and if the committees okay him/her then it goes to a vote in the Senate and the House.
266545
The Federal Reserve is owned by the United States of America, it is not privately owned.  Check out http://en.wikipedia.org/wiki/Federal_reserve for an explanation of the system, but basically the President appoints a Board of Governors that supervise a system of regional reserve banks and commercial member banks.  The board is currently headed by Ben Bernanke, who replaced Alan Greenspan earlier this year.
13563
The President of the Senate is technically in charge of the running of the Senate. The Vice President holds this position, but usually the Vice President is not in the chamber. In his absence, the President pro tempore acts as the President of the Senate.\n\nThe only important function the President of the Senate serves is, if there is a tie vote, he casts the deciding vote. It has happened fairly infrequently, but often is important on controversial bills.
138191
The role of central banks is to regulate the supply of money and therefor to regulate the interest rate at which money is availalbe to other banks.  In so doing, they have a direct and immediate effect on the economy of a nation.