Monetary policy of the United States

rdf:langString Monetary policy of the United States

rdf:langString Monetary policy of The United States concerns those policies related to the minting & printing of money, policies governing the legal exchange of currency, demand deposits, the money supply, etc. In the United States, the central bank, The Federal Reserve System, colloquially known as "The Fed" is the monetary authority. It is significant to point out that the United States uses a fiat currency as of 1933, whereas from 1873 - 1933 a precious metal standard or gold standard was in use. The Federal Reserve's board of governors, along with the Open Market Committee are the principle arbiters of monetary policy in the United States, though the U.S. is unique in that the monetary policy role is ultimately shared along with the United States Treasury (US Treasury Securities). The Treasury is the penultimate agency on fiscal policy, though it is directly involved in monetary policy through printing & minting federal reserve notes and treasurys. The Fed is largely concerned with policies related to the issuance of loans (including reserve rate and interest rates), along with other policies that determine the size and rate of growth of the money supply (such as buying and selling government bonds), whereas the Treasury deals directly with minting and printing as well as budgeting the government. The U.S. Congress established three key objectives for monetary policy in the Federal Reserve Act: maximizing employment, stabilizing prices, and moderating long-term interest rates.