Federal Reserve System

Law and Policy Perspectives

  • Niel Willardson (University of Minnesota Law School)

2 Week 2: Federal Reserve Organization, Governance, and Overview 2 Week 2: Federal Reserve Organization, Governance, and Overview

2.1 Learning goals: 2.1 Learning goals:

  1. Understand the basic structure of the Fed – the Board of Governors, Reserve Banks, the Federal Open Market Committee (FOMC).
  2. High level overview of Fed functions (building the base)
  3. A deeper dive on the FOMC and how it works.
  4. Considerations of Fed Independence and “Audit the Fed.”

2.2. The Fed at 100

The Fed at 100

2.3. Structure and Functions of the Federal Reserve System

Structure and Functions of the Federal Reserve System

2.4. Short Primer on Supervision and Regulation

Short Primer on Supervision and Regulation

2.5. Short Primer on Monetary Policy

Short Primer on Monetary Policy

2.6. Short Primer on Financial Services

Short Primer on Financial Services

2.7. Betsy Duke’s speech – “Come with me to the FOMC”:

Betsy Duke’s speech – “Come with me to the FOMC”:

2.8. Speech by Governor Powell on Audit the Fed and other proposals - Federal Reserve Board

Speech by Governor Powell on Audit the Fed and other proposals - Federal Reserve Board