Origin and Mission of Federal Reserve video - Essay Prowess

Origin and Mission of Federal Reserve video

Origin and Mission of Federal Reserve video

Bernanke in his video Origin and Mission of Federal Reserve and podcast on NPR provides an insight on the origin and mission of Federal Reserve in United States. Federal Reserve is the central bank in the U.S. It plays a central role in the nation’s financial system. Before the creation of Federal Reserve in U.S, New York Clearing House provided the financial stability functions. However, it was unable to provide required financial stability in financial panics that were experienced in 1890s and early 1900s (Bernanke, 2012).  Financial panic refers to the loss of public confidence over a financial institution, hence leading to collapse of the instituti

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