Examples of Federal Reserve Board in the following topics:
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- The relatively loose monetary policy adopted by Federal Reserve Board Chairman G.
- William Miller as Secretary of the Treasury, naming Paul Volcker as Chairman of the Federal Reserve Board.
- Paul Volcker, former Chairperson of the President Carter's Economic Recovery Advisory Board.
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- President Wilson secured passage of the Federal Reserve Act in late 1913.
- President Wilson secured passage of the Federal Reserve Act in late 1913, as an attempt to carve out a middle ground between conservative Republicans, led by Senator Nelson W.
- The compromise, based on the Aldrich Plan but sponsored by Democratic congressmen Carter Glass and Robert Owen, allowed the private banks to control twelve regional Federal Reserve Banks and placed controlling interest in a central board to be appointed by the president with Senate approval.
- Wilson named Paul Warburg and other prominent bankers to direct the Federal Reserve.
- Despite the fact that the Act intended to diminish the influence of the New York banks, the New York branch continued to dominate the Federal Reserve until the New Deal reorganized and strengthened the Federal Reserve in the 1930s.
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- Included among these were the Federal Reserve Act, Federal Trade Commission Act, the Clayton Antitrust Act, and the Federal Farm Loan Act.
- Wilson's banking reform was most notably accomplished by the 1913 creation of the Federal Reserve System.
- The compromise, based on the Aldrich Plan but sponsored by Democratic congressmen Carter Glass and Robert Owen, allowed the private banks to control twelve regional Federal Reserve Banks and placed controlling interest in a central board to be appointed by the president with Senate approval.
- Wilson named Paul Warburg and other prominent bankers to direct the Federal Reserve.
- Despite the fact that the Act intended to diminish the influence of the New York banks, the New York branch continued to dominate the Federal Reserve until the New Deal reorganized and strengthened the Federal Reserve in the 1930s.
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- This included the Federal Reserve Act, the Underwood Tariff, the Federal Trade Commission, the Clayton Antitrust Act, and the Adamson Act.
- In late 1913, Wilson secured passage of the Federal Reserve Act, an Act of Congress that created the Federal Reserve System, the central banking system of the U.S., and granted it the legal authority to issue currency.
- To create the Federal Reserve System, he had to negotiate a compromise between conservative Republicans (led by Senator Nelson W.
- A complex business-government partnership that to this day dominates the financial world, the Federal Reserve System played a major role in financing the Allied and American war efforts during the two World Wars.
- On the home front in 1917, he began the first U.S. draft since the American Civil War, borrowed billions of dollars in funding through the newly established Federal Reserve Bank and Liberty Bonds, set up the War Industries Board, promoted labor union cooperation, supervised agriculture and food production through the Lever Act, took control of the railroads, and suppressed anti-war movements.
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- In general, Clinton's approach entailed modernizing the federal government, making it more entrepreneurial, and distributing more authority to state and local governments.
- Economist Alan Greenspan served as the Chair of the Federal Reserve's board of governors throughout Clinton's presidency.
- The effects of appointing tight money proponents to the Federal Reserve showed up in the Consumer Price Index (CPI), which stabilized during the 1990s at a fairly low rate, never rising above 5% during the Clinton presidency.
- The Personal Responsibility and Work Opportunity Act of 1996 represented a fundamental shift in both methods and goal of the federal cash assistance to the poor; the law fulfilled Clinton's 1992 campaign promise to "end welfare as we have come to know it."
- Alan Greenspan was the Chairman of the Federal Reserve throughout the Clinton presidency.
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- Furthermore, lowering taxes, public work projects, and loosening credit policies by the Federal Reserve aimed to energize the economy.
- Congress created RFC in 1932 and for the first time in history, the federal government was able to intervene in the economy so directly.
- Second, the Revenue Act of 1932, which was the largest peacetime tax increase in history, increased taxes across the board.
- Federal Emergency Relief Administration (FERA; initiated by Hoover) created government, mostly unskilled jobs.
- The National Labor Relations Act (1933), which established the National Labor Relations Board (1935).
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- If federal legislation conflicts with state laws, the federal legislation prevails and the state must defer to the federal government.
- There are two types of federal systems: dual federalism and cooperative federalism.
- Under this view of federalism, the federal government only has the powers expressly granted to it, while the states retain all other powers.
- The Constitution contains safeguards that prevent stretching federalism too far to either extreme, and the Tenth Amendment notably reserves for state governments all powers not expressly given to the federal government within the Constitution.
- For example, although the federal government prosecutes crimes against the United States (such as treason or interference with the postal system), the general administration of criminal justice is reserved to the states.
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- During World War II, the federal government controlled the prices of goods, wages, and war-sensitive materials like fuel and steel.
- Three of them, the Office of Price Administration (OPA; est. 1941), the Office of Administrator of Export Control (est. 1940; its functions later transferred to the Economic Defense Board and in 1943 to
the Office of Economic Warfare) and
the War Production Board (WPB; est. 1943) were among the federal agencies in charge of controlling the economy so that the United States was able to meet the demands of World War II.
- The Financial Reporting Division was transferred to the Federal Trade Commission.
- Roosevelt, replacing
the Supply Priorities and Allocation Board and the Office of Production Management.
- Only a year later, its functions were transferred to the Economic Defense Board (later changed to
the Board of Economic Warfare).
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- Termination of a tribe meant the immediate withdrawal of all federal aid, services, and protection, as well as the end of reservations.
- Most such acts included the cessation of federal recognition and all the federal aid that came along with that designation.
- In addition to ending the tribal rights as sovereign nations, the policy terminated federal support of most of the health care and education programs, utility services, and police and fire departments available to Indians on reservations.
- Many Indians also lost health care during termination after relocating off the reservations.
- Indian houses and farms on the Laguna Indian reservation, Laguna, New Mexico (March 1943).
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- Oversight
and administration of the draft was entrusted to local boards of civilians that
issued draft calls, which were ordered by numbers drawn in a national lottery,
and determined exemptions.
- Congress
authorized President Wilson to
create between 500,000 and 1 million new jobs in 5,000 new federal agencies.
- Wilson, oversaw most of the wartime labor
programs and included a War Labor Board to adjudicate disputes.
- The service also brought 110,000 workers into
the country from Puerto Rico and the Virgin Islands, enrolled 1 million people in
a reserve labor force, and in early 1918 began mobilizing 3 million workers for
agriculture, ship building, and defense plant positions.
- To
keep factories running smoothly, the president established the National War
Labor Board in 1918, which forced management to negotiate with existing unions.