Historyczne uwarunkowania funkcjonowania i polityki pieniężnej Systemu Rezerwy Federalnej jako banku centralnego Stanów Zjednoczonych
DOI:
https://doi.org/10.19251/rtnp/2022.14(4)Słowa kluczowe:
System Rezerwy Federalnej, Federalny Komitet do spraw Otwartego Rynku, Rada Gubernatorów, polityka pieniężna, stopa procentowa i stopa dyskontowa, podaż pieniądza, stabilność cen, Wielka DepresjaAbstrakt
System Rezerwy Federalnej, powszechnie nazywany Rezerwą Federalną (Fed), jest bankiem centralnym Stanów Zjednoczonych. Amerykański bank centralny jest jedną z najbardziej wpływowych (jeśli nie najbardziej) instytucji finansowych na świecie. Władze Rezerwy Federalnej są często określane jako „panowie pieniądza” i jest to trafne podsumowanie wpływu, jaki decyzje tej instytucji mają na gospodarkę światową. Bank ten został utworzony na mocy Ustawy o Rezerwie Federalnej z 1913 r. Regulacja ta była kilkakrotnie nowelizowana, a najważniejsze zmiany wprowadzano w latach 1933-1935 oraz w 2010 r. Regulacje wprowadzone w latach 30. XX w. doprowadziły do powołania Rady Gubernatorów, w skład której wchodzi siedmiu członków. Ponadto na mocy ustawy o bankowości z 1933r. powołano Federalny Komitet Otwartego Rynku (FOMC), odpowiedzialny za podejmowanie decyzji dotyczących polityki pieniężnej USA. Konferencje i decyzje najważniejszych członków Systemu Rezerwy Federalnej śledzą wszyscy inwestorzy instytucjonalni i indywidualni. Wpływają one na kursy walut, giełdy, rynki towarowe i pozostałe instrumenty finansowe. W ustawie z 1913 r. Kongres narzucił Systemowi Rezerwy Federalnej szereg celów, jednak bez nadawania priorytetu żadnemu z nich i bez tworzenia w tym zakresie jakiegokolwiek odniesienia instytucjonalnego lub ekonomicznego. Cele te obejmują: dążenie do wysokiego (pełnego) zatrudnienia, dążenie do stabilności cen i stabilności długoterminowych stóp procentowych.
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