To address the problem of banking panicsConsidering that we have had major financial crises, including the Saving and Loans Crises of the 1980s and 1990s with the then revered Alan Greenspan as the chairman for nearly 30 years from 1987 to 2006 under 4 presidents, can the Federal Reserve accomplish these goals?
To serve as the central bank for the United States
To strike a balance between private interests of banks and the centralized responsibility of government
To supervise and regulate banking institutions
To protect the credit rights of consumers
To manage the nation's money supply through monetary policy to achieve the sometimes conflicting goals of maximum employment stable prices, including prevention of either inflation or deflation moderate long-term interest rates
To maintain the stability of the financial system and contain systemic risk in financial markets
To provide financial services to depository institutions, the U.S. government, and foreign official institutions, including playing a major role in operating the nation’s payments system
To facilitate the exchange of payments among regions
To respond to local liquidity needs
To strengthen U.S. standing in the world economy
Should the Federal Reserve be disbanded? If so, for what if anything?