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Simple English definitions for legal terms

Federal Reserve System

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A quick definition of Federal Reserve System:

The Federal Reserve System is like a big bank that helps control how much money is in the country. It was created in 1913 and has 12 smaller banks that work together. The people who run the Federal Reserve System make rules about how much money banks have to keep in reserve and how much they can lend out. They also set the interest rate that banks have to pay when they borrow money from the Federal Reserve System. The goal is to keep the economy stable and make sure there is enough money for people to use.

A more thorough explanation:

The Federal Reserve System is the central bank of the United States. It is responsible for setting credit and monetary policies, regulating the amount of credit that can be extended on any security, and determining the reserves that depository institutions must maintain. The Federal Reserve System was established by the Federal Reserve Act of 1913 and is made up of 12 central banks supervised by a Board of Governors.

For example, if the Federal Reserve System determines that the economy needs a boost, it may lower the discount rate charged by Federal Reserve Banks, making it cheaper for banks to borrow money. This can encourage banks to lend more money to businesses and individuals, which can stimulate economic growth.

Another example is if the Federal Reserve System determines that inflation is becoming a problem, it may increase the reserves that depository institutions must maintain. This can reduce the amount of money available for lending, which can help to slow down inflation.

federal reserve note | Federal Retirement Thrift Investment Board

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15:09
I did 7sage cause its $1 with a cas waiver
AngryMiniCar
15:09
7Sage $1 waiver was the goat
AngryMiniCar
15:18
I think I honestly just read way too slow to be able to reread sections as I answer :')
AngryMiniCar
15:18
I spend 5 minutes reading chat
15:24
i just left the licka stoe im tryna lick a hoe
Woah
AngryMiniCar
15:31
@SoftshellTaco: I'm just curious but it looks like your cycle is nearly done
AngryMiniCar
15:31
Where are you thinking of heading?
MrThickRopes
15:48
fo pm
MrThickRopes
15:48
COMING SOON
MrThickRopes
15:48
2 A FO PM NEAR U
16:05
i got no sympathy for international students tbh
16:05
dont yall got your own law schools
16:05
why would you want to come to the us anyway
lmao
16:15
@SoftshellTaco: hiiiii
Lets discuss something
16:17
lemme post my cycle again
16:17
actually nvm i want to be mysterious
16:18
@ItchyRottenHedgehog: if you were a lemon, what shape would you be
16:18
if u guys could’ve gone anywhere for undergrad where would it be. and don’t say Harvard
Maybe the legality of privacy laws pertaining the onternet and the use of illegal software that leads to the invasion of privacy. ^;^
16:18
nah thats boring
16:18
I would be this one
16:18
id have like a flower imprint if i was a lemon
16:19
r u goth eso
16:19
no im a little sweetie
16:19
i ain’t neva been goth
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