Essay - Chairman, Board of Governors of the Fed 1.) Explain the...

Chairman, Board of Governors of the Fed

*****.) Explain ***** traditional role of the chairman and provide your opinion on the current level of authority associated with this position. Is it enough to execute all the responsibilities of this office?

As a Chairman of the Federal Reserve System, its major traditional ***** is to protect and maintain the financial health of ***** United States. This major role is critical because he will be the one responsible for whatever happens with the current status of the country's financial st*****ing. Other tasks are being shared with other member ***** the system as based on Wikipedia (2006):

Superv*****e and regulate banks

Implement m*****etary policy by open market operations, setting the discount rate, ***** setting the reserve ratio

Maintain a strong p*****yments system

***** ***** amount of currency that is made and destroyed on a day to ***** bas***** (in conjunction with the M*****t ***** Bureau of Engraving and Printing)

Since the Chairman is the one who is in charge of all the tasks, it is up to him to designate the task ***** others as long as he is aware of what is happening with each segment. The ***** level ***** authority ***** practiced ***** the chairman as the one headed the Federal Reserve System. It ***** ***** to ***** these responsibilities but then proper analysis and examination should be done first by the **********.

2.) Who is Ben Bernanke and why is he qualified ***** be the current chairman? Discuss one of Bernanke's prior research papers and provide ***** opinion on how this research may be used to impact future monetary policy? (Please attach reference on the paper you discuss)

Ben Bernanke became the Chairman of the ***** Reserve ***** on February 1, *****. He ***** serve the Federal Reserve System as a member of the Board for 14 years and as a chairman for 4 years. Bernanke started his career ***** an Assistant Professor in Economics ***** 1979. Because of his excellent knowledge and experience in economics he wrote several articles, books and journals regarding analysis on ec*****omic issues ***** soon he became a chairman of the President's Council of Economic Advisers until January 2006.

Article of Bernanke: "A Crash Course for Central Bankers" (2000)

Bernanke made an analysis regarding ***** fall or crash of stock ***** in U.S and Japan. Bernanke ***** a detailed analysis on ***** the stocks fell, the reason behind the crash ***** ***** stocks and the effect made ***** ********** crashes. This analysis will help Bernanke in handling his ***** designation as Chairman. He knew the effect of the cr*****h and for this ***** he can used this as an example for the future monetary *****. *****re is a sample ***** his *****alysis that he ***** use ***** the monetary policy as based on the article of ***** (2000):

***** look reveals that the ec*****omic repercussions of a stock market crash depend less on the severity of the crash itself than ***** ***** response of economic