How the Federal Reserve Works
Have you ever taken a close look at paper money? Each U.S. 钞票的上方印着“联邦储备券”.
但许多人可能不知道为什么美联储会发布这项法案，以及美联储在经济中扮演什么角色. Here’s an inside look.
美联储，通常被称为“美联储”，是国家的中央银行. 1913年，国会成立了这个组织，为国家提供一个更安全的环境, more-flexible, and more-stable monetary and financial system.1 Prior to its creation, the U.S. 经济被频繁的恐慌、银行倒闭和有限的信贷所困扰.
The Fed has four main roles in the U.S. economy.1
Economy Watch
In addition to its other duties, 美联储在经济方面得到了三项任务:保持最大就业, maintaining stable price levels, and maintaining moderate, long-term interest rates.2
重要的是要记住，美联储不能直接控制就业, inflation, or long-term interest rates. Rather, 它使用许多可以使用的工具来影响货币和信贷的可用性和成本. This, in turn, 影响消费者和企业在商品和服务上花钱的意愿.
For example, if the Fed maneuvers short-term interest rates lower, borrowing money becomes less expensive, and people may be motivated to spend. Consumer spending may stimulate economic growth, which may cause companies to produce more products, and potentially, increase employment. When short-term rates are low, 美联储密切监控经济活动，以观察物价上涨的迹象.
On the other hand, if the Fed pushes short-term rates higher, borrowing money becomes more expensive, and people may be less motivated to spend. 这反过来可能会减缓经济增长，导致企业减少就业. 当短期利率高企时，美联储必须关注整体物价水平下降的迹象.
Supervise and Regulate
美联储建立并执行银行的规章制度, savings and loans, and credit unions must follow. 它与其他联邦和州机构合作，确保这些博天堂AG旗舰机构财务健全，消费者得到公平和公平的待遇. When an organization is found to have problems, 美联储利用其职权要求该组织纠正这些问题.
Financial System
美联储通过提供支付服务来维持博天堂AG旗舰系统的稳定. In times of financial strain, 美联储被授权作为最后贷款人介入, 向单个银行或整个银行系统提供流动性. 例如，美联储可能会介入并提出购买某家银行持有的政府债券. 通过这样做，美联储为银行提供了可以用于其自身目的的资金.
Banker for Banks, U.S. Government
美联储向银行和其他储蓄机构以及美国政府提供博天堂AG旗舰服务.S. government, directly. For banks, savings and loans, and credit unions, 它维护账户并提供各种支付服务, including collecting checks, electronically transferring funds, distributing new money, and receiving and destroying old, worn-out money. For the federal government, the Fed pays Treasury checks; processes electronic payments; and issues, transfers, and redeems U.S. government securities.
每一天，美联储都在幕后支持经济，为美国提供服务.S. financial system. And while the Fed’s duties are many and varied, 它的重点是维持人们对银行机构的信心.
A Decentralized Central Bank
联邦储备系统由12家独立的银行组成，在联邦政府任命的华盛顿理事会的监督下运作, D.C. 每个银行都在一个特定的区域内工作，如图所示.
Source: Federal Reserve Board of Governors, 2019
1. FederalReserve.gov, 2020
2. Board of Governors of the Federal Reserve System, 2019
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