The Federal Reserve’s board of governors is responsible for overseeing the broader Fed system, as well as supervising and ...
The 12 Federal Reserve Banks act as “banks for the banks.” When the Board of Governors of the Federal Reserve changes the federal funds rate, it causes other banks to act accordingly ...
The Federal Reserve Act also gives each Reserve Bank the power to establish discount rates, subject to review and determination by the Board of Governors. Another principal responsibility of each head ...