Who is the Federal Reserve chairman?
152575
As of February 1, 2006, it is Dr. Ben Shalom Bernanke, who succeeded Alan Greenspan after 19 years as Chairman of the Fed.
809247
Ben Shalom Bernanke - Alan Greenspan's successor.  If he so much as sneezes the entire country will stop to listen.  After all, money talks and who else controls all the money in the country other than the Chairman of the Federal Reserve?
1124546
federal reserve rates affect all interest rates, and these are changed due to inflation and other reasons.  the fed "loans" money to other private banks at certain rates and the banks to make money have to charge over those rates.
12723
The Fed's reserve requirement does not actually create money. Moreover, if you accept your arguments, the Fed is actually limiting the creation of money by requiring banks to keep more money in reserve than they otherwise would. The key problem with your argument is that the Constitution gives Congress the power to "coin money," which lending does not do. Lending allows people to use other people's money for a time. The money they are borrowing was coined by act of Congress, and the loan is repaid using money coined by act of Congress. The only money "created" is on paper.\n\nEdit: First, "to coin money" has a clear, physical meaning. There is no need to expand it into the more general sense of "to create money." Second, the framers of the Constitution clearly did not mean to eliminate the loan system which had been developing in America since long before even the Revolution, much less the Constitution, and continued even more strongly afterward. Third, the Federal Reserve Bank was created by act of Congress, and Congress observes and directs its governance, so the "creation of money" because of the Fed is through the direction of Congress, much like the physical coinage of money is not actually performed by Congress, but directed by Congress through the Bureau of Engraving and Printing. Finally, the "money" created by lending is not actually usable money. When person A lends $100,000 to person B, person A cannot use that money and has no money, only a promise of money in the future. $100,000 is still all the money that exists from the transaction.
198950
Not sure about since Greenspan has been the chairman, but here is the list since 1990.
110301
Fed Reserve, but really the major corporations.  They control everything with their bucks.
705139
Of course I would want to know what's in the box.   I'm human.  \n\nNow ... what to do?  Contact your immediate supervisior and be certain to follow through to make sure the information gets to the "powers that be".   AKA the Federal Reserve Board, FDIC, OCC, etc.\n\nUnfortunately you are the middle man in this, but should the gentlemans tale be true - you could also be 'da man!\n\nGood luck.  And stay safe.
429376
The president usually has relatively little to do with the state of the economy.  It's been kind of down recently because we kind of had an up economy for ~13 years or so in the 80s and the 90s.  This was much much longer than the usual period of a cycle, so having some down years is something to be expected.\n\nIt's just a typical business cycle.  There are going to be up years and down years.\n\nIf anyone, I'm guessing the Chairman of the Fed has much more short-term control over the economy than the President.  The President does have (sort of) control of fiscal policy, but it takes a while to see the effects of that while monetary policy has a much more immediate impact.\n\nIf Gore or anyone else had been elected President, I don't think the economy would have turned out that much differently.  Whoever got elected after such a gigantic bubble was going to take a hit no matter what.  Clinton had it nice with the .com boom and mass speculation and growth in the market.  The president is mostly just a bystander, in my opinion.  He may have some impact down the line, but the state of the economy right now wasn't so unforseeable after the stock market crash.\n\nI'm sure someone will point out legislation ABC and XYZ, but how much of a national effect did it *really* have?  I'm not sure about the consumer demand.  It is indirectly tied to interest rates, which have been going up non-stop for a really long time.\n\nNote: I didn't vote Bush, and I don't really support him, so don't make that an issue.  This is purely from an economics standpoint.
313562
the answer to this is "probably" Mortgage rates are helped by a friendly Fed and the Federal Reserve is less likely to meddle in politics by doing any changing during an election cycle.  Better yet are the chances of no rate changes, however, due to the negative bend the Fed has been on for almost two years now, even a neutral stance would be great for all of us!
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,"
1082638
Louis T. McFadden was a member of the House of Representatives in the twenties and thirties and is one of the heros of the Federal Reserve conspiracy theorists. A Republican from Canton, Pennsylvania, he was the chair of the House Banking and Currency Committee during the twenties, but was merely a Committee member by 1932. He used his position in Congress occasionally to crusade against the Federal Reserve, a stance Gary Kah (1991) implies may have cost McFadden his life. On June 10, 1932 the House was debating a bill which would would expand the types of securities the Federal Reserve could trade when conducting monetary policy. McFadden used this opportunity to launch a twenty-five minute tirade against the Federal Reserve, and in so doing became a legendary champion amongst conspiracy theorists. However, just because a claim appears in the Congressional Record does not necessarily mean it is true. Here I present excerpts from his speech with my comments and analysis (the entire text may be found in the Congressional Record, pages 12595-12603). \n\nMr. Chairman, we have in this country one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board and the Federal reserve banks. The Federal Reserve Board, a Government board, has cheated the Government of the United States out of enough money to pay the national debt. The depredations and the iniquities of the Federal Reserve Board and the Federal reserve banks acting together have cost this country enough money to pay the national debt several times over. This evil institution has impoverished and ruined the people of the United States; has bankrupted itself, and has practically bankrupted our Government. It has done this through defects of the law under which it operates, through the maladministration of that law by the Federal Reserve Board and through the corrupt practices of the moneyed vultures who control it (C.R. p. 12595).\nOnce the hyperbole and histrionics are deducted, there is little remaining of substance in the above quotation. McFadden makes the claim that the Federal Reserve had cost the federal government enough money to "pay the national debt several times over." Is he correct?
1186322
The FOMC (Federal Open Market Committee) sells funds into the market to help speed up the economy by making it cheaper people and business to get cash.  The do the opposite to slow down the economy if they fear inflation.
974598
The Federal Reserve has the power to mitigate the effects of inflation by adjusting its monetary policy. For example, they can sell government securities and raise interest rates (which would decrease the money supply, thus curbing inflation).
1153776
Bush (President) is doing a good job--for the super-rich corporate interests. The little people are only here, to provide wealth to the super-greedy, some of whom own the private Federal Reserve.  The tax-collecting division of the Fed, the IRS, shakes down the little people, to provide tax payments (not even covering the interest) that go toward whittling down the National Debt. (Your taxes do not pay for government.)
172507
Minister Louis Farrakhan.\n\nLM
688950
the short answer is inflation . when inflation is high the fed will raise the interest rate to combat and try to slow down inflation .
480148
The most influential economic policy is the Federal Resrve Board raising or lowering interest rates.