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Homeowners often become very interested in the Federal Reserve Bank system. Every time the board of directors meets, mortgage interest rates are at risk.
Federal Reserve Bank
The Federal Reserve System acts as the central bank of the United States. Created in 1913, the Federal Reserve sets monetary and financial policies for the financial industry and trades currency with foreign countries. The Federal Reserve also acts as the bank for the federal government. When you send a check in with your tax return, it ends up in the Federal Reserve.
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The primary job of the Federal Reserve is to manipulate fiscal policy. The goal is to fine-tune the economy to create a stable Austin Johnson Jersey , predictable situation in which businesses can function. Wildly fluctuating economic keys, such as interest rates, can lead to chaos. In the late 1970’s, for instance Kevin Dodd Jersey , interest rates shot up into the high teens, causing a major economic slow down.