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FEDERAL RESERVE SYSTEM: THE central bank of the United States. It includes a Board of Governors, 12 District Banks, 25 Branch Banks, and assorted committees. The most important of these committees is the Federal Open Market Committee, which directs monetary policy. The Fed (as many like to call it) was established in 1913 and modified significantly during the Great Depression of the 1930s. It's duties are to maintain the stability of the banking system, regulate banks, and oversee the nation's money supply.
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MONEY MARKET DEPOSITS Interest-paying bank accounts maintained by traditional commercial banks, credit unions, savings and loan associations, and mutual savings banks that pay higher interest rates than standard savings accounts, but with minimum balance requirements and limited check writing capabilities. Money market deposit accounts were developed by banks in response to money market mutual funds offered by mutual fund companies. These deposits are typically considered a type of savings deposits, along with passbook accounts and share accounts. Money market deposits, along with these other savings deposits and assorted near monies, are added to M1 to derive M2.
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ORANGE REBELOON
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Today, you are likely to spend a great deal of time browsing about a thrift store trying to buy either a replacement remote control for your television or a replacement nozzle for your shower. Be on the lookout for mail order catalogs with hidden messages.
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Only 1% of the U.S. population paid income taxes when the income tax was established in 1914.
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"I not only use all the brains that I have, but all that I can borrow. " -- Woodrow Wilson, 28th US president
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DSE
Detroit Stock Exchange
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