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Marriner Eccles: Father of the Modern Federal Reserve
The Role of the Modern Federal Reserve
What is the role of the Federal Reserve in regulating the U.S. economy? The Fed has two major roles: monetary policy, accomplished through the setting of interest rates, and oversight of the financial system, such as the regulation of the banking system at large. Through these two sets of tools, the Fed can stimulate a sluggish economy, reduce inflation, and ensure banks are operating properly.
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56:40
Marriner Eccles shaped the Federal Reserve into the independent institution it is today.