Federal Reserve

Federal Reserve

Economics is the study of how an economy uses its scarce resources.   Aside form using limited resources to grow the economy, money is needed to produce wealth and production.   The Federal Reserve System is a government body that serves as the nation’s central bank.   The Federal Reserve System was enacted by Congress and the system consists of seven member Boards of Governors which is headquartered in Washington, D.C., and twelve Reserve banks located in major cities in the United States.

                                           The Purpose and Function of Money
Money is anything that is accepted as payment for goods