Exploring the FOMC

4. Who are the current members of FOMC? You should be able to find them here <http://www.federalreserve.gov/FOMC/>.

5. On older Federal Reserve notes the bank that issued the note was identified. For example, you can see that the Federal Reserve note shown here was issued by the Federal Reserve Bank of New York. You might also notice that there is a B in the circle to the left of Washington, and the number "2" appears twice, to the left of the circle. The Federal Reserve Bank of New York serves the second reserve district and B is the second letter of the alphabet. However, in the new designs of currency, the name of the issuing Federal Reserve bank no longer appears, but the letter of the bank and the number are still there. (Check a new bill and see if you can see them.) Here is a test of your web searching abilities. If you have a ten-dollar bill that has an F6 on it, which Federal Reserve bank issued it? What letter and number will appear on a ten-dollar bill issued by the Federal Reserve Bank of Kansas City?

6. Visit the website of the European Central Bank at http://www.ecb.int/home/html/index.en.html and answer these questions:
Where is the European Central Bank located?
What is its principal goal?
In what denomination are euro banknotes (paper money) issued?
How many countries belong to the system of the European Central Bank?
Which countries belong?
What has happen to the central banks of those countries?
What group is the equivalent to the FOMC for the European Central Bank?

Review Question back Next