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    eral funds rate which is currently at 5.25%. This rate is that which banks lend their deposits to other banks overnight. They do this to help other banks keep within the reserve requirements set by the Fed. The highest federal funds
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    I would argue that the most powerful man in the world is not the President of the United States but rather the Chairman of the Federal Reserve Ben Bernanke. He is the modern day EF Hutton...when he speaks, everyone listens - even the President.

    The Federal Reserve was founded by Congress in 1913 as the central bank of the U.S. The function of the Fed is to conduct the nation's monetary policy and regulate our banking institutions. Within the Fed is the Federal Open Market Committee. This committee consists of 12 members which includes seven members of the Board of Governors of the Federal Reserve System and the President of the Federal Reserve Bank of New York. The FOMC meets in person eight times per year and may meet by phone on other occasion. When major economic events occur, the FOMC may meet as they did after 9/11.

    The FOMC achieves its fiscal objectives partially by setting the target for the federal funds rate which is currently at 5.25%. This rate is that which banks lend their deposits to other banks overnight. They do this to help other banks keep within the reserve requirements set by the Fed. The highest federal funds

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    The Federal Reserve was founded by Congress in 1913 as the central bank of the U.S. The function of the Fed is to conduct the nation's monetary policy and regulate our banking institutions. Within the Fed is the Federal Open Market Committee. This committee consists of 12 members which includes seven members of the Board of Governors of the Federal Reserve System and the President of the Federal Reserve Bank of New York. The FOMC meets in person eight times per year and may meet by phone on other occasion. When major economic events occur, the FOMC may meet as they did after 9/11.

    The FOMC achieves its fiscal objectives partially by setting the target for the federal funds rate which is currently at 5.25%. This rate is that which banks lend their deposits to other banks overnight. They do this to help other banks keep within the reserve requirements set by the Fed. The highest federal funds

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    ederal Open Market Committee. This committee consists of 12 members which includes seven members of the Board of Governors of the Federal Reserve System and the President of the Federal Reserve Bank of New York. The FOMC meets in person eight times per year and may meet by phone on other occasion. When major economic events occur, the FOMC may meet as they did after 9/11.

    The FOMC achieves its fiscal objectives partially by setting the target for the federal funds rate which is currently at 5.25%. This rate is that which banks lend their deposits to other banks overnight. They do this to help other banks keep within the reserve requirements set by the Fed. The highest federal funds

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    rson eight times per year and may meet by phone on other occasion. When major economic events occur, the FOMC may meet as they did after 9/11.

    The FOMC achieves its fiscal objectives partially by setting the target for the federal funds rate which is currently at 5.25%. This rate is that which banks lend their deposits to other banks overnight. They do this to help other banks keep within the reserve requirements set by the Fed. The highest federal funds

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    eral funds rate which is currently at 5.25%. This rate is that which banks lend their deposits to other banks overnight. They do this to help other banks keep within the reserve requirements set by the Fed. The highest federal funds rate in the last 16 years was 8.0% back in 1990. It was at it's lowest just recently when it bottomed out at 1%. The Fed also provides information on the economy by publishing a report called the "Beige Book". This report is published eight times per year as well and is based upon anecdotal evidence gathered by each Federal Reserve Bank.

    Here is how the Fed and Mr. Bernanke affect interest rates. They affect rates by lowering or raising the Federal Funds rate. There is a direct affect on short term interest rates like the prime rate and any kind of T-Bill rates of less than 5 years. Almost every bank mirrors the Fed with the prime rate they publish. In other words, as the Fed moves the Fed Funds Rate, banks move the prime rate. The prime rate right now is 3% higher than the Fed Funds Rate. So if the Fed raises the Fed Funds rate from its current level of 5.25% to 6.0%, then the prime rate would move from 8.2

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